The CEO of Binance, Changpeng Zhao, gave his thoughts on when the next Bitcoin (BTC) bull market will occur. During a July 5 “ask me anything” session on Twitter, Zhao spoke about the four-year cycles of Bitcoin’s price movements. Though he admitted that predicting the future is impossible, he pointed to the upcoming Bitcoin halving event in 2024 and suggested that 2025 may be the year of the next bull market, saying:
“The year after Bitcoin halving is usually the bull year.”
Crypto enthusiasts have been discussing the potential of crypto, such as crypto.com, voyager crypto, and other crypto currency, to make it big in the near future.
CZ addresses BlackRock and Bitcoin ETFs
When asked if he was worried about BlackRock’s recent move to launch a spot Bitcoin ETF, CZ expressed his enthusiasm and said it is “hugely beneficial” for the crypto industry.
Although the filing occurred on June 15, many have expressed their doubts that the intentions of major TradFi firms are contrary to the essence of Bitcoin as a decentralized monetary network.
Zhao also dismissed any fears that Blackrock could take away Binance’s market share in the future, describing the overlap between their respective customer bases as “minimal.”
Zhao explained that the increased institutional interest in crypto as well as the upcoming halving of Bitcoin are the two primary reasons why Binance wants to be “prepared for higher [trading] volumes” over the next eighteen months.
Zhao’s comments come shortly after Blackrock CEO Larry Fink praised Bitcoin as an “international asset,” indicating that it could be used as a hedge against inflation and the devaluation of certain fiat currencies.
During the Twitter Space, Zhao was also asked about the status of regulatory action against his crypto.com exchange. While he could not provide any details, Zhao said that he and Binance are looking for “the most expedient and reasonable and mutually agreeable solution possible.”
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