Binance's CZ Makes Major Statement as Bitcoin Hits $86K

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Dovbnya</div> </a> <div class="article__author-desc">Has Bitcoin already crossed the chasm?</div> </div> <div class="article__wrap"> <div class="article__sticky"> <div class="share share--sticky"> <button class="btn--light share__btn" aria-label="Share btn"></button> <a class="share__link share__link--x" href="#" onClick='gEvent("twitter","shareSlide");window.open("https://twitter.com/intent/tweet?url=https://u.today/binances-cz-makes-major-statement-as-bitcoin-hits-86k&text=Binance's CZ Makes Major Statement as Bitcoin Hits $86K", "Twtitter Sharing", "width=1200,height=600");return false;' title="Share to X"></a><a class="share__link share__link--fb" href="#" onClick='gEvent("facebook","shareSlide");window.open("http://www.facebook.com/sharer/sharer.php?u=https://u.today/binances-cz-makes-major-statement-as-bitcoin-hits-86k&text=Binance's CZ Makes Major Statement as Bitcoin Hits $86K", "Facebook Sharing", "width=1200,height=600");return false;' title="Share to Facebook"></a><a 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href="/latest-cryptocurrency-news" hreflang="en">News</a> </div> </div> <div class="humble article__short-humble"> Mon, 11/11/2024 - 19:35 </div> </div> <div class="article__main-btns"> <div class="article__fontSize"> <div class="btn--light article__fontSize-toggle"></div> <div class="article__fontSize-menu"> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-small"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-medium"></div> </div> <div class="article__fontSize-item"> <div class="article__fontSize-btn" data-size="article-large"></div> </div> </div> </div> <div class="article__listen"> <audio class="article__listen-audio" src="/tts/?page=59626" preload="none"></audio> <button class="btn--light article__listen-btn" aria-label="Play/pause audio"></button> </div> </div> </div> <div class="article__img--wrap"> <img class="article__img" src="/sites/default/files/styles/736/public/2024-11/3412423423.png" alt="Binance's CZ Makes Major Statement as Bitcoin Hits $86K"> </div> <figcaption title="https://www.freepik.com/premium-ai-image/bitcoin-crypto-currency_76188144.htm#position=48">Cover image via <a href="https://www.freepik.com/premium-ai-image/bitcoin-crypto-currency_76188144.htm#position=48">www.freepik.com</a></figcaption> <div class="disclaimer"> <p class="disclaimer_text">Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.</p> </div> </div> <div class="article__gnews"> <a class="article__gnews-body" href="https://news.google.com/publications/CAAqBwgKMMy2lQsw3ZqrAw?hl=en-US&gl=US&ceid=US:en" target="_blank"> <div class="article__gnews-text">Read U.TODAY on</div> <div class="article__gnews-title">Google News</div> </a> </div> <div class="article__content"> <p dir="ltr">Bitcoin has reached <a rel="dofollow" href="https://www.tradingview.com/chart/?symbol=BINANCE%3AETHUSDT">a new record high</a> of $86,800 at 19:07 UTC on the Bitstamp exchange.  </p><p dir="ltr">It is currently trading $86,104 after paring some of its impressive gains. Still, the leading cryptocurrency is up by roughly 7%. </p><p dir="ltr">Former Binance CEO Changpeng Zhao has already <a rel="nofollow" target="_blank" href="https://x.com/cz_binance/status/1856053393501925457">commented</a> on Bitcoin entering its new price discovery phase. "Crossing the chasm, finally," he said.  </p><div class="hot"> <div class="hot__head"> <div class="hot__title">HOT Stories</div> <a rel="nofollow" target="_blank" class="btn btn--light hot__btn" href="/hot-stories" title="Go to Hot stories"> </a> </div> <div class="hot__body"> <a href="https://u.today/crucial-shib-clear-warning-comes-from-shiba-inu-team-details" class="hot__col"> <div class="hot__col-name">Crucial SHIB 'Clear Warning' Comes From Shiba Inu Team: Details</div> </a> <a href="https://u.today/xrp-to-2-this-crucial-level-needs-to-be-cleared-first" class="hot__col"> <div class="hot__col-name">XRP to $2: This Crucial Level Needs to Be Cleared First</div> </a> <a href="https://u.today/ripple-mints-gigantic-105-million-rlusd-stablecoin-in-one-go" class="hot__col"> <div class="hot__col-name">Ripple Mints Gigantic 10.5 Million RLUSD Stablecoin in One Go</div> </a> <a href="https://u.today/stellar-xlm-price-sensationally-jumps-by-56-overnight" class="hot__col"> <div class="hot__col-name">Stellar (XLM) Price Sensationally Jumps by 56% Overnight</div> </a> </div> </div><p dir="ltr">Zhao likely referenced "Crossing the Chasm," a popular marketing book written by Geoffrey A. Moore. The book focuses on the adoption challenges that innovative high-tech products tend to face. Some of these products never take off due to their inability to "cross the chasm."  </p><div class="something"> <div class="something__title">Advertisement</div> <div class="something__nav"> <button class="btn btn--light something__close" aria-label="Close ad"></button> </div> <div class="something__content"> <div class="something__content--long">  <ins class="adsbygoogle" style="display:inline-block;width:728px;height:200px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="3561648781"></ins> </div> <div class="something__content--square">  <ins class="adsbygoogle" style="display:inline-block;width:300px;height:600px" data-ad-client="ca-pub-9245916885225528" data-ad-slot="2056995427"></ins> </div> </div> </div><p dir="ltr">As Zhao's comment suggests, Bitcoin has already achieved much-coveted mainstream acceptance. </p><p dir="ltr">The cryptocurrency's rapid rise has been fueled by growing demand for spot ETF products and persistent discussion about the US potentially adopting Bitcoin as a treasury reserve asset.  </p><h2>"Unlimited" upside potential </h2><p dir="ltr">Technical analyst Larry Tentarelli believes that Bitcoin hitting new record highs potentially means unlimited upside potential. "Many like to fade breakouts or call tops, but for me, is one of the best signals there is. New highs mean potentially unlimited upside potential vs defined risk, with a stop loss," he said in a social media post.</p><p dir="ltr">Katie Stockton, founder and managing partner of Fairlead Strategies, has predicted that the leading cryptocurrency by market cap could surge to as high as $98,000 after taking a short pause.   </p> </div> <div class="article__panel"> <div class="article__tags btns-spacer"> <a class="btn btn--hash-tag" href="/bitcoin-price-prediction">#Bitcoin Price Prediction</a> <a class="btn btn--hash-tag" href="/changpeng-zhao-0">#Changpeng Zhao</a> </div> </div> </div> </div> <div class="article__author -hr-"> <div class="article__author-label">About the author</div> <a class="article__author-user" href="/alex-dovbnya"> <img width="224" height="140" alt="article image" src="https://u.today/sites/default/files/2019-11/alex-m-ava.jpg" loading="lazy" class="article__author-img" /> <div class="article__author-name">Alex Dovbnya</div> </a> <div class="article__author-desc"><p>Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. 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