Bitcoin‘s (BTC) price appears to be struggling to hold steady at $31,000 amid a whirlwind of positive and negative news. Although staying above $30,000 is a critical signal for the leading cryptocurrency, targets such as $40,000 and $50,000 still seem distant. Binance cryptocurrency exchange’s CEO, Changpeng Zhao, made a recent statement forecasting the date for the expected bull run for BTC.
Changpeng Zhao Forecasts the Bitcoin Bull Run in 2025
Changpeng Zhao answered a variety of questions in a Q&A session held on July 5th. CZ, as he’s often known, made comments about BlackRock’s entry into the crypto sector and discussed the latest developments in the exchange’s battle with regulators. Zhao noted that BTC’s price has historically followed four-year cycles, with a rally occurring every four years, a pattern he expects to continue.
Although Zhao admits he cannot predict the future, he anticipates a bull run in 2025 following the Bitcoin block reward halving in 2024. CZ emphasized his raised hopes for a bull year in 2025, stating: “The year following a Bitcoin halving is typically a bull year.”
BlackRock Entry Beneficial for Bitcoin
When asked if he was concerned about BlackRock’s entry into the Bitcoin ETF world, Zhao responded that this was very positive for the sector, and he shared this view. Responding to rumors that BlackRock could eat into the BTC volume of major exchanges like Binance, the renowned CEO downplayed the possibility, asserting that the potential customer base to be lost to BlackRock was minimal.
Zhao, who predicts that the next Bitcoin block reward halving will be very different and corporate interest will break records, hinted that this could actually result in a more intense rally than others. This statement by Zhao heightens expectations of a new price record in Bitcoin’s next rally, causing investor impatience. After a record of $69,000, BTC could not rise above this level and actually broke its previous record with the last block reward halving. This further corroborates CZ’s predictions about the BTC price.
