In a recent interview, Binance Co-Founder and CEO Changpeng Zhao (aka “CZ”) said that the current Bitcoin bull cycle might peak as late as 2024.
CZ’s comments about Bitcoin came on January 26 during an interview with Crypto influencer Ran Neuner (“@cryptomanran” on Twitter) on YouTube channel “Crypto Banter“.
With regard to the Bitcoin price,CZ had this to say:
“Now, we are basically in discovery territory again. Bitcoin broke the previous all-time high, which was there for three years… Now, we are in the $30,000+ territory, so we went to $42,000 and are coming back… This time around, we see a lot more users, a lot more institutional participation. Before this was the peak, now this is the foundation...
“And I think 2021, 2022, 2023… it’s going to take two to three years, maybe four years, for this sort of cycle to probably hit the peak...
“In the history of Bitcoin, if you look at the Bitcoin price in 2013, it broke the $200 all-time high, and then it went to $1,000. So, that took about a year… a year and a half. So, it takes some time…
“And then we saw a big drop in 2013 from $1,000 to $200 in 2014 to 2015-ish. It took until 2016 to break that high, and then in 2016, we passed $1,000, and then it went to $3,000. In 2017, it went to $20,000. So, we see a 20X jump over a three to four year period.”
