Richard Teng, the CEO of the leading crypto exchange Binance, has recently made a strong statement in favour of Bitcoin ($BTC). He has declared Bitcoin ($BTC) the “digital gold” of this era, amid the leading crypto asset’s continuous spike to new all-time high price levels. He made this statement on X, reaffirming the crucial role of Bitcoin ($BTC) in the financial market. Simultaneously, Bitcoin ($BTC) is experiencing a broad-scale institutional interest driven by a new ATH of $126,198.07.
Binance CEO Declares Bitcoin ‘Digital Gold’ Amid Continuous ATH Streak
Richard Teng’s bullish statement regarding Bitcoin ($BTC) comes at a time when the top cryptocurrency is enjoying a continuous upward trajectory. In this respect, on October 5, it surged past the $125K mark to replace the previous ATH of $124K. Following that, on October 6, it claimed the latest all-time high spot of $126,198.07. This continuous upward trajectory is driving the inclusion of institutional capital, strengthening its position as the digital gold.
$BTC’s Momentum Builds with Monthly Gains Displaying 8.5% Growth
Binance CEO’s bullish stance on Bitcoin ($BTC), the on-chain statistics highlight a rising price momentum. Particularly, over the past month, Bitcoin has recorded a staggering 8.51% upsurge. Additionally, its weekly performance indicates a 4.56% increase. Moreover, the 24-hour volume of the flagship crypto coin shows a 19.6% rise, accounting for $80.63B.
Although, everything seems bullish at the moment, there is a bearish speculation as well. It has been observed historically that when the majority of the traders is bullish, the market makes a correction. So, it is better to keep this in mind too in order to prepare for any type of situation.
Source: https://blockchainreporter.net/binance-ceo-calls-bitcoin-digital-gold-of-the-era/