Binance CEO reveals when the next Bitcoin bull run will begin
Changpeng Zhao, the CEO of Binance, recently offered his prediction for the beginning of the next Bitcoin bull run.
He believes that 2025 holds the highest likelihood for the start of the next bull market, primarily due to the Bitcoin halving event scheduled for 2024. In light of this projection, Zhao also mentioned that Binance has already initiated preparations for a surge in trading activity, as there has already been a significant increase in trades on centralised exchanges. In the past month alone, this indicator has experienced a notable growth of 14.2%.
Zhao is optimistic about the future of the crypto industry and believes that even if the bear market persists, the exchange will face no difficulties. Zhao asserts that there is still ample room for growth in the crypto market.
When asked about potential threats posed by the entry of major players like BlackRock into the crypto market, he responded positively, suggesting that such developments would actually be beneficial for the industry by attracting new participants. Additionally, Zhao dismissed concerns regarding BlackRock potentially encroaching on Binance’s market share, stating that the overlap between their customer bases is minimal.
Ahead of Changpeng Zhao’s statement, Larry Fink, the CEO of BlackRock, praised Bitcoin as an “international asset”, acknowledging its potential as a hedge against inflation and currency risks.
However, it’s important to note that the US Securities and Exchange Commission (SEC) recently filed a lawsuit against Binance and Zhao. Consequently, the market share of Binance.US has declined to its lowest point since 2020.
Similarly, tensions in Europe remain high, leading the company to seek a specialist in European policy matters. Moreover, Binance had to exit the Dutch market last month due to problems in obtaining a virtual asset service provider licence.