Binance CEO Changpeng “CZ” Zhao has delivered his prediction for the next Bitcoin bull market.
In a July 5 “ask me anything” session on Twitter, CZ covered BlackRock’s intention to enter the crypto market, updated listeners about ongoing regulatory action against the exchange, and gave his thoughts on the next bull run.
CZ explained that the price of Bitcoin has historically moved in four-year bull cycles and his best bet was that this would continue to occur.
While he admitted that he couldn’t see the future, Zhao emphasized the upcoming Bitcoin halving event in 2024 and declared 2025 to be the most likely year for the next bull market.
Zhao explained that increased institutional interest and Bitcoin’s upcoming halving are the two primary reasons why Binance wants to be “prepared for higher [trading] volumes” over the next eighteen months.
Zhao’s comments come just hours after BlackRock CEO Larry Fink praised Bitcoin as an “international asset,” saying that it could be used to hedge against inflation and the devaluation of certain fiat currencies.
During the Twitter Space, Zhao was also questioned about the status of regulatory action against his exchange. While he acknowledged that he couldn’t talk specifics, Zhao said that he and Binance are looking for “the most expedient, reasonable and mutually agreeable solution possible.
