Binance CEO sees Bitcoin topping $80,000

Teng said he had earlier estimated the cryptocurrency would end the year at around $80,000, but now sees it exceeding that "with supply reducing and demand continuing to come through." He reiterated the forecast was his personal view, adding the rally won't be a "straight line" and the ups and downs will be good for the market.

Bitcoin has surged 56% this year, reaching an all-time high of almost $73,798 last week. The rally has sparked concerns of a bubble among some investors, triggering a bout of and selloff in recent sessions.

Source: Forex-Markets-Economic Times