Bitcoin Price Prediction: BTC Slips 3% Amid Binance CEO’s Exit & Hyperinflation Fears
Given the recent news that Binance CEO Changpeng Zhao has resigned and the increasing fear of hyperinflation amidst the economic downturn, it is safe to say that bitcoin prices may suffer a 3% drop in the near future. This could be compounded by the possibility of more outbreaks of the coronavirus leading to further economic instability. However, given its relative stability as a safe haven asset, bitcoin is unlikely to undergo significant swings in the near-term. Longer-term price predictions are hard to make with any degree of accuracy as the market for cryptocurrencies is still relatively young and in a state of flux.