Binance CEO Predicts Next Bitcoin Bull Run in 2024, Welcomes BlackRock’s Entry into Crypto

In a recent “ask me anything” session on Twitter, Binance CEO Changpeng “CZ” Zhao shared his insights on various topics, including the next bull run for Bitcoin (BTC), BlackRock’s foray into the crypto market, and the ongoing regulatory actions against his exchange.

With his finger on the pulse of the industry, CZ delivered his prediction for the future of Bitcoin.

CZ highlighted the historical pattern of Bitcoin’s price movements, observing that the cryptocurrency tends to follow four-year bull cycles. Based on this trend, CZ speculated that the next bull market would likely occur in 2025, the year following the anticipated Bitcoin halving event in 2024.

While acknowledging that he couldn’t predict the future with certainty, CZ expressed confidence in this cyclical nature of Bitcoin’s growth.

Addressing concerns about BlackRock’s entry into the spot Bitcoin exchange-traded fund (ETF) arena, CZ greeted the development with enthusiasm, considering it a significant benefit for the entire crypto industry.

Despite apprehensions raised about the traditional finance giants encroaching on the decentralized ethos of Bitcoin, CZ reassured that the overlap between Binance’s customer base and that of BlackRock would be minimal.

He emphasized that newcomers to the crypto space would introduce additional users, ultimately expanding the overall adoption of cryptocurrencies.

CZ’s positive outlook stemmed from the rising institutional interest in Bitcoin and the impending halving event, both of which are expected to fuel higher trading volumes. Binance aims to be well-prepared to accommodate this surge in activity over the next eighteen months, capitalizing on the increased institutional involvement.

These statements from CZ emerged shortly after BlackRock CEO Larry Fink made favorable comments about Bitcoin, recognizing it as an “international asset” capable of serving as a hedge against inflation and the devaluation of fiat currencies.

Turning to the topic of regulatory action against Binance, CZ acknowledged the ongoing challenges but emphasized his commitment to finding expedient and mutually agreeable solutions. While he refrained from divulging specific details, CZ expressed a desire to navigate the regulatory landscape effectively, demonstrating his dedication to compliance and building a sustainable future for the exchange.