Changpeng Zhao – the man behind Binance, the world’s largest and most popular digital currency exchange – has announced that he thinks 2025 will likely be the year in which bitcoin reaches a new high and goes through a bull run like nobody has ever seen.
This is very similar to an article that Live recently published. In that article, it was suggested (as an opinion, of course) that 2024 would be the year in which bitcoin likely hits its $60K price from 2021 again. From there (the following year), it would surge beyond what anybody thinks possible, and then it would crash in 2026.
That is the pattern that bitcoin has seemingly taken on every four years or so, and it’s likely Zhao himself agrees with all this sentiment given he’s offering similar takes on the trends and journeys of the bitcoin price. He is also dismissing any sort of threat that standard financial companies like BlackRock might currently pose to Binance, citing the company’s size and stamina as its two biggest components. He stated in an interview:
The year after [a] bitcoin halving is usually the bull year.
2024 is currently slated to be the next halving period for bitcoin, the world’s number one digital currency by market cap. A halving is when the rewards for bitcoin miners are literally cut in half, thus making it so that fewer units are placed in circulation or given out to miners that solve the complex math equations that result in BTC being placed in circulation.
This causes the asset to become rarer, boosting its status a bit more in the future. Discussing how he thinks BTC will move in the coming months and years, Zhao stated:
I see a lot of parallels with bitcoin’s past cycles with bitcoin’s 2013, 2017, and 2021 bull markets. If you look to the past, there are clear patterns.
He also stated that one of the reasons he’s not threatened by BlackRock is because he thinks what it’s trying to do with its current ETF application is “hugely beneficial” to the crypto market. He stated:
Anyone who’s coming into crypto that’s not in crypto today will bring additional people into crypto. Will they compete for any of the existing users with us? Yes, probably a little bit, but to be honest, look at our user base. The overlap is minimal.
Right now, the biggest problem for Binance has arrived in the form of a lawsuit initiated by the Securities and Exchange Commission (SEC).
The financial agency is suing the exchange for allegedly violating securities laws and for potentially commingling customer funds with those of the firm, thus taking a page right out of the FTX playbook.
The post Binance CEO: Bitcoin Will Explode in 2025 appeared first on Live .
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Author: NixCoin
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