Changpeng Zhao (CZ) said in a regular AMA event held this week that based on historical trends, a bull market always appears one year after the halving. He predicted that the price winter of Bitcoin and cryptocurrencies may last for at least 18 months (one and a half years), but he is still optimistic that 2025 will be a key cycle for cryptocurrencies to return to a bull market.
Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance, held a regular AMA event on Twitter Space this week, sharing hot topics in the current cryptocurrency market and his views on future market trends.
CZ: The current crypto winter may last at least 18 months
When asked about his opinion on "whether the bull market has arrived", 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 historical trends, the bull market always appears one year after the halving. He predicted:
The Bitcoin and cryptocurrency price winter may last at least 18 months (a year and a half), and Binance will want to be prepared for higher trading activity. We are actively preparing our trading system to cope with the subsequent bull market.
However, CZ also optimistically pointed out that compared with the bleak period after the FTX crash in November last year, trading volume has begun to stabilize in recent weeks, including: the newly applied Bitcoin spot ETF, the Bitcoin reward halving event in mid-2024... and other factors.
Optimistic about the bull market in 2025
Last month, JPMorgan analysts said they were optimistic that Bitcoin’s 2024 reward halving would drive prices higher, and if the market had an equal portfolio of Bitcoin (BTC) and gold, the price of Bitcoin would likely fall to $45,000.
Although CZ said that prices are unpredictable and has repeatedly warned of the dangers of Bitcoin price fluctuations, he is still optimistic that 2025 will be a key cycle for cryptocurrencies to return to the bull market, and may even allow Bitcoin to break through its historical high of $68,000 at the end of 2021.
Seeing past cycles of Bitcoin: There are many similarities between the 2013, 2017, and 2021 bull runs. If you look back in time, there are clear patterns.
