As an analyst with years of experience in the dynamic and ever-evolving world of cryptocurrencies, I find myself intrigued by the current surge in Bitcoin’s price, breaking yet another all-time high. Having navigated through the tumultuous waters of the crypto market, I can confidently say that this is indeed a significant milestone.
Currently, Bitcoin (BTC) has reached an unprecedented price peak surpassing $75,000, marking a 6.8% growth from the start of this week. This astronomical value places it among a colossal $1.45 trillion asset. Consequently, the overall cryptocurrency market experienced a boost, with its cumulative market capitalization, as indicated by the TOTAL index, reaching an all-time high since June at approximately $2.457 trillion.
numerous specialists, merchants, and well-known businesspeople within the cryptocurrency sector have shared their views and predictions about potential record-breaking peaks. Yet, it was the response from the renowned former Binance CEO, Changpeng Zhao (also known as CZ), that made the biggest impact.
In a laconic, yet eloquent post, Zhao broke his silence amid Bitcoin’s record-high euphoria with a simple “gm.”
gm
— CZ 🔶 BNB (@cz_binance) November 6, 2024
This morning saw quite a boost for several alternative digital currencies, including Uniswap’s UNI and Dogecoin (DOGE), as they both recorded double-digit gains within just a few hours. Not to be outdone, Bitcoin reached another historic high for the second time this year.
Bull run in 2025? CZ reacts
Earlier during Binance Blockchain Week, CZ shared his perspective regarding the cryptocurrency market, Bitcoin, and his predictions for both the upcoming year, 2024, and 2025.
The individual, fresh out of a U.S. prison following the Binance investigation by American authorities, expressed his belief that the cryptocurrency market operates on a four-year cycle pattern, according to his perspective.
During his presentation, he noted that the years 2013, 2017, and 2021 were all periods of growth (bull markets), while the years preceding them served as recovery phases. He implied a potential significant growth phase (a real bull run) could occur in 2025, but he was careful not to make any definitive predictions about it.
On the other hand, Zhao confirmed that his long-term outlook is bullish.
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2024-11-06 14:51