Changpeng Zhao (CZ) said in a routine AMA event held this week that, based on historical trends, the bull market always appears a year after halving.He predicted that the cold winter of Bitcoin and cryptocurrency prices may last at least 18 months.month (one and a half years), but still optimistic that 2025 is a key period for cryptocurrency to return to the bull market.
(Previous summary: CZ AMA key finishing “Binance is not afraid of traditional financial grabbing
business, Bitcoin ETF application to increase trading volume..)
(Background supplement: Bloomberg interview with Binance He Yi: I brought CZ into the encrypted
world, and the two are partners and comrades-in-arms)
Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance, held a routine AMA event on Twitter Space this week, sharing current hot topics in the cryptocurrency market, and also mentioned his views on future market trends.
Further reading: After the US SEC sued, how many times did CZ hide in Dubai?Binance: He is often in
France
CZ: The current cryptocurrency winter may last at least 18 months
When asked about his opinion on “whether the bull market has come”, CZ did not give a positive or negative conclusion, saying that he was not sure whether the market would repeat historical patterns because “no one can predict the market.”
CZ further stated that if we look at the historical trend, the bull market always appears one year after the halving.He predicted:
Bitcoin and Crypto Price Winter Could Last At Least 18 Months (Year and a Half)and Binance will hope to prepare for higher trading activities, and we are actively preparing for the trading system to deal with the coming of the bull market.
However, CZ also optimistically pointed out that compared with the bleak period after the FTX crash in November last year, the trading volume has begun to stabilize in recent weeks, including: the newly applied Bitcoin spot ETF, the upcoming Bitcoin reward reduction in mid-2024 Semi-event… and other factors.
Optimistic about the arrival of the bull market in 2025
Last month, JPMorgan analysts said they were bullish on Bitcoin’s 2024 reward halving, which would lead to higher prices, and that if the market had an equal portfolio of Bitcoin (BTC) and gold, the price of Bitcoin would likely fall to $45,000 .
Although CZ stated that the price is unpredictable and has repeatedly reminded the dangers of Bitcoin price fluctuations, he stillOptimistic about 2025 will be a key period for cryptocurrency to return to the bull marketand may even allow Bitcoin to break through the all-time high at the end of 2021 ($68,000).
See past cycles of Bitcoin: 2013, 2017 and 2021 Bull Runs have many similarities.
If you look back, there are obvious patterns.
Further reading: Bitcoin halving analysis: Why is now the best time to “buy BTC”?
Further reading: Will the SEC call for a “meeting” of Bitcoin spot ETF applicants? BlackRock CEO: Eager to discuss with regulators in detail!
— Binance (@binance)
[July 5, 2023]
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Tags: BinanceCZ cold winter Binance bull market Changpeng Zhao
2023-07-09 04:44:38
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