Binance's New CEO Expects Bitcoin to Surpass $80,000 by Year-End, Standard Chartered Raises Price Target to $150,000

Richard Teng, the new CEO of Binance, predicts that Bitcoin will surpass $80,000 by the end of the year due to decreasing supply and increasing demand. Standard Chartered has also raised its year-end price target for Bitcoin to $150,000. The institutional adoption of cryptocurrency has led to a market rally, with Bitcoin reaching new highs and family offices and endowment funds expected to increase their investment in Bitcoin ETFs. Teng believes that the market will experience ups and downs, but overall, it will be good for the market.