Why CZ Believes Bitcoin Will Hit $200K Despite Trading Under $100K ⋆ ZyCrypto

Binance founder and former CEO Changpeng Zhao (CZ) has stated that Bitcoin can reach $200k in the near future. He retweeted his earlier statement about the mega move, believing it was the most obvious thing in the world.

Zhao has been very active on the microblogging platform in the last year, and his activity has reached new highs in recent weeks, as he is branding himself as a crypto ambassador rather than a top-ranking executive, his previous role.

Bitcoin Reaching $200k is “ Obvious”

CZ retweeted his earlier statement to a crypto news channel:

CZ is among the biggest crypto personalities on X with 10 million followers. He has recently made a habit of offering optimistic price predictions, especially for Bitcoin. The former Hong Kong businessman found himself in a tight spot with the Biden administration a couple of years ago, and he was sentenced to 4 months in prison in 2024 in a major Department of Justice (DoJ) case that shook the entire crypto industry.

However, Zhao was released from a US jail in September 2024 and has since embarked on a charm offensive to win over major countries to crypto. His activities have picked up pace after he was given a presidential pardon by Trump two months ago.

When Will Bitcoin Reach $200k?

Bitcoin is currently hovering just south of the $98k valuation at press time with a sustained recovery process underway. According to the major analytics website Glassnode, bears are closing long-term bearish positions on over 500 top coins, and hundreds of millions of dollars of shorts were liquidated on them.

Here is Bitcoin’s price action from the last couple of months:

In addition to the positive signs in the derivative market, the Relative Strength Index (RSI) of Bitcoin has flipped bullish for the first time in more than 3 months, signalling a willingness to turn the current bearish outlook into a recovery phase.

If the bullish forces can maintain their narrative and move above its current All Time High (ATH) of $126.2k, there is a good chance it can reach a $200k valuation within a few years, if not in 2026.

However, there is still a long way to go before a major price recovery occurs, as the bulls first need to overcome the $100k resistance level immediately and then continue the recovery on an urgent basis. Failure to do so will favor the long-term bearish setup and wipe out recent gains.