Introduction
The price of Bitcoin has been on a downward trend for the past few months, but there is some hope on the horizon. Binance CEO Changpeng Zhao (CZ) has predicted that the next Bitcoin bull run will begin in 2025.
In a Twitter Space on July 5, CZ discussed his views on the future of Bitcoin. He pointed to the upcoming Bitcoin halving event in 2024 as a key factor that will likely lead to a bull market.
What is a Bitcoin halving?
A Bitcoin halving is a scheduled event that occurs every four years. During a halving, the reward that miners receive for mining a new block is cut in half. This means that the supply of new Bitcoin entering the market is reduced, which can lead to an increase in the price.
The last Bitcoin halving occurred in May 2020. Since then, the price of Bitcoin has more than doubled. This suggests that the next halving, which is scheduled to occur in May 2024, could lead to an even more significant increase in the price of Bitcoin.
CZ’s prediction
CZ believes that the next Bitcoin bull run will begin in 2025. He said that the halving event in 2024 will likely lead to a supply shock, which will drive up the price of Bitcoin.
CZ also pointed to the increasing adoption of Bitcoin by institutional investors as another factor that could contribute to a bull market. He said that more and more institutional investors are starting to see Bitcoin as a legitimate investment, and this could lead to a significant increase in demand for Bitcoin.
Other factors that could contribute to a bull run
In addition to the halving event and the increasing adoption of Bitcoin by institutional investors, there are a number of other factors that could contribute to a bull market in 2025. These include:
The continued development of the Bitcoin ecosystem.
The increasing popularity of Bitcoin among retail investors.
The growing awareness of Bitcoin’s potential as a store of value.
Conclusion
CZ’s prediction that the next Bitcoin bull run will begin in 2025 is based on a number of factors, including the upcoming halving event and the increasing adoption of Bitcoin by institutional investors. While it is impossible to say for sure whether or not CZ’s prediction will come true, there is certainly reason to be optimistic about the future of Bitcoin.
Additional information
The price of Bitcoin has historically moved in four-year cycles. The most recent bull market began in 2016 and ended in 2017.
The Bitcoin halving event is scheduled to occur every 210,000 blocks. The next halving event will occur at block height 840,000.
The increasing adoption of Bitcoin by institutional investors is a positive sign for the future of the cryptocurrency. Institutional investors have a lot of money to invest, and their involvement could help to drive up the price of Bitcoin.
Disclaimer
This article is for informational purposes only and should not be construed as investment advice. The author is not a financial advisor and does not hold any position in Bitcoin.
