Bitcoin Bull Market Prediction: Binance CEO CZ Talks Halving, BlackRock, and Regulation
During a Twitter Space held on July 5th, Binance CEO Changpeng Zhao shared his predictions for the upcoming Bitcoin bull run.
Binance CEO Changpeng Zhao predicts the next Bitcoin bull market, highlighting the historical four-year cycles. In a recent Twitter “ask me anything” session on July 5, CZ mentioned the upcoming Bitcoin halving event in 2024, indicating that 2025 is the most probable year for the next bull market. According to Zhao, the year following Bitcoin halving typically experiences a bull run.
Addressing concerns about BlackRock’s entry into the spot Bitcoin ETF arena, CZ expressed his support, stating that it would be hugely beneficial for the crypto industry. Despite worries about BlackRock potentially dominating Binance’s market share, Zhao downplayed the impact, noting minimal overlap between their customer bases.
Zhao, emphasized that new entrants into the crypto space would attract additional users, acknowledging some competition but highlighting the insignificant overlap with their existing user base.
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Zhao outlined Binance’s focus on preparing for higher trading volumes over the next eighteen months, citing increased institutional interest and Bitcoin’s upcoming halving as the primary reasons. In the context of Bitcoin ETFs, it has been suggested that they might negatively affect the crypto market compared to decentralized monetary networks like Bitcoin.
Notably, BlackRock CEO Larry Fink recently praised Bitcoin as an “international asset,” suggesting its potential as a hedge against inflation and the devaluation of certain fiat currencies. In response to questions about regulatory actions against Binance, Zhao expressed his intention to seek an expedient, reasonable, and mutually agreeable solution, while acknowledging his inability to provide specific details.