The crypto market has recently experienced a surge in institutional interest, which has led to an increase in the price of Bitcoin to over $30,000 per coin. As institutional investors show increasing interest in cryptocurrencies, the question arises as to when the next Bitcoin bull run will start.
Binance CEO Changpeng Zhao, also known as CZ, has shared his views on this topic, offering predictions based on past cycles and commenting on BlackRock’s entry into the cryptocurrency market.
Bitcoin’s Next Bull Run: CZ Predictions.
As part of a Twitter Q&A, CZ revealed that the Bitcoin price has historically followed a four-year cycle. Based on this trend, the Binance CEO stated that the most likely year for the next bull run would be 2025, as this would coincide with the Bitcoin halving, which is expected in early 2024. According to CZ, the year after the Bitcoin halving is usually bullish.
Benefits of the BlackRock raid.
During the same Q&A session, Zhao also commented on the entry of BlackRock, the world’s largest asset manager, into the cryptocurrency space. According to him, this foray is “hugely beneficial” for the emerging cryptocurrency industry.
BlackRock has filed an application with the United States Securities and Exchange Commission for a Bitcoin exchange-traded fund (ETF).. Given BlackRock’s track record of success in its SEC filings, experts believe the odds are in favor of the financial giant getting its ETF approved.
Minimal overlap between Binance and BlackRock.
As for concerns that BlackRock could compete with Binance and grab market share, CZ dismissed them. According to him, the overlap between the customer bases of both companies is minimal. CZ emphasized that the entry of new entrants into the cryptocurrency market will only increase overall adoption and not necessarily affect existing players.
Furthermore, the Binance CEO highlighted that rising institutional demand and the upcoming Bitcoin halving are the key factors preparing Binance to handle higher trading volumes in the next eighteen months.
To end.
Although no one can predict for sure when the next Bitcoin bull run will begin, Binance CEO Changpeng Zhao has shared his vision based on past cycles and key events.
According to CZ, 2025 could be the year that Bitcoin enters a new bullish phase, taking advantage of the Bitcoin halving expected in 2024. Additionally, BlackRock’s entry into the cryptocurrency market is seen as hugely beneficial to the industry, and CZ does not see significant competition between Binance and BlackRock due to the minimal overlap in their respective customer bases.
