- Zhao says Bitcoin’s path to $200,000 is inevitable over time.
- Growing institutional adoption may reduce the impact of Bitcoin’s traditional four-year halving cycle.
- Analysts remain divided, with Tom Lee bullish on $200K and Peter Brandt questioning price targets.
Binance co-founder Changpeng Zhao stated that Bitcoin reaching $200,000 is certain over time, citing structural shifts in market participation and regulation, while acknowledging that the timing remains uncertain.
According to comments made during a voice AMA on Binance Square, Changpeng Zhao stated that Bitcoin will “definitely” reach $200,000 given enough time. Zhao did not provide a timeline but pointed to changing conditions around regulation, institutional involvement, and broader market behavior as key factors shaping Bitcoin’s trajectory.
Zhao said crypto policy in the United States has become more favorable following the re-election of Donald Trump, reducing regulatory pressure on the digital asset sector. He also noted that continued strength in U.S. equity markets has historically supported Bitcoin price performance by improving overall market confidence.
Institutional Adoption May Weaken the Four-Year Cycle
Zhao said these developments could reduce the relevance of Bitcoin’s traditional four-year halving cycle. Historically, Bitcoin bull markets have followed halvings, but Zhao suggested that deeper integration with Wall Street and macro markets may change that pattern. According to his remarks, Bitcoin could increasingly trade as a global risk asset rather than a retail-driven, cyclical instrument.
Similar views have previously been expressed by analysts such as Willy Woo and QuintenFrancois, who have said that investors should no longer rely on the four-year cycle when assessing Bitcoin market behavior.
Related: Bitcoin Predicted to Hit $200K in 2025: Market, Policy Catalysts Ahead
Tom Lee Reiterates $200,000 Target, Others Push Back
Zhao’s comments align with earlier projections from Tom Lee, who outlined a $200,000 Bitcoin target in an October 2025 interview with CNBC. At the time, Bitcoin was trading near $111,000. Lee attributed his target to expected Federal Reserve rate cuts and improving liquidity conditions.
However, the projection has faced skepticism. Veteran trader Peter Brandt publicly questioned Lee’s forecast, stating that he has “no faith in any given trade or opinion” and warning against conviction-based price targets.
Bitcoin Market Activity and Recent Price Action
At the time of reporting, Bitcoin was trading at $96,275, up 1.36% over 24 hours. According to CoinMarketCap data, Bitcoin later rose to around $96,240, reflecting a 1.54% daily gain. The session included a rally above $97,000, followed by slight consolidation as prices recovered but remained above earlier lows.
Additionally, market data indicate a total Bitcoin market capitalization of approximately $1.92 trillion, with a 24-hour trading volume of nearly $59.3 billion.
Related: Bitcoin (BTC) to Hit $200,000 in Q4? Tom Lee Explains How
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