CZ Forecasts Bitcoin’s Next Future Peak: Here’s When

Bitcoin’s halving will stir up the crypto waters, but the result might not be immediate.

Changpeng Zhao wearing a fancy suit, sitting in a director's chair holding a crystal ball.
Created by Gabor Kovacs from DailyCoin
  • Market-wide slump takes the global crypto market cap down by 1.9% daily.
  • Leading crypto platform Binance puts up a countdown to the next BTC halving.
  • Binance CEO Changpeng ‘CZ’ Zhao predicts when BTC will soar.

As the cryptosphere bumped into a market-wide sell-off this Monday at 09:30 AM UTC, Bitcoin (BTC) slumped back to $27,400 after several days of retesting the $28,000 resistance. However, altcoins were hit by the crypto earthquake even harder, setting mild panic among Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), and Solana (SOL) investors.

BTC successfully bounced back in minutes after hitting the daily low at $24,402, according to CoinGecko. At press time, the largest crypto trades at $27,504.66, maintaining confluence at the foundational support level. Bitcoin, the unprecedented financial star of 2023, still shines bright with 40% yearly gains.

Binance Boss Makes Bold Bitcoin Price Prediction

As global adoption grows, huge players in the crypto macrocosm place their bets on Bitcoin’s price in a year, in five years, and in a decade. In a recent post, Changpeng ‘CZ’ Zhao forecasts the perfect bullish setup for Bitcoin to reach a new all-time high.

CZ referred to the upcoming Bitcoin halving as a turning point in the next major Bitcoin price shift. However, he also disclaimed that “the bitcoin price won’t double overnight. And people will be asking why it didn’t,” alluding to the ‘buy the rumor, sell the news’ situation, frequently occurring amid big and favorable news for a blockchain project.

The tables for Bitcoin are expected to turn a year into the next Bitcoin halving. “The year after the halving, bitcoin price hits multiple ATH (all-time highs)” remarked the Binance Boss. This would catapult BTC above $69,044.77, reached in November 2021, during the worldwide crypto boom. Happening 194 days from now, the next Bitcoin halving can now be tracked on Binance’s homepage.

Uncertainty and indecision lead to the current sentiment of the crypto markets, as the Crypto Fear and Greed Index points to a status quo at 50. The short-term perspective has set a mild panic among alternative currency investors. Bitcoin remains relatively stable and is among the few cryptocurrencies in double-digit gains this year.

On the Flipside

  • Many crypto enthusiasts on X (previously known as Twitter) complained about Binance Feed not being available in their region, which makes the new social network’s content unavailable to most developing countries.

Why This Matters

Understanding top industry players’ perspectives on Bitcoin’s price movement is crucial to determining where Bitcoin stands as a valuable asset.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.