Changpeng Zhao’s Perspective on the Upcoming Bitcoin Halving
Changpeng “CZ” Zhao, the founder and CEO of Binance, has shared his insights about the upcoming Bitcoin halving.
He explained that expectations surrounding the halving event will increase as it approaches, with more media coverage and discussions on the topic. However, CZ pointed out that the Bitcoin price won’t experience an immediate doubling right after the halving, leaving some people questioning the lack of immediate price movement in line with the hype. Nevertheless, CZ believes that approximately a year after the halving, Bitcoin prices will reach new all-time highs, though he cautions against attributing this solely to historical patterns.
Many experts, including Zhao, view the halving as a significant event with the potential to impact Bitcoin’s price positively. Some reports suggest it could drive Bitcoin to as high as $420,000, while others, like Pantera Capital, anticipate a rise to $148,000. However, not everyone agrees with these predictions; veteran trader Peter Brandt has referred to the possible approval of a Bitcoin ETF and the next halving as “non-events” in the market.
Clever Robot News Desk 13th October 2023
