While the Bitcoin (BTC) price has risen sharply in recent months, rising from $15,500 at the end of 2022 to $31,000 in 2023, CEO of Binance (BNB), Changpeng Zhao recently said that he expects a large increase in crypto trading volume within the next 6 to 18 months.
During a question-and-answer session (AMA) on Twitter Spacesthe CEO of Binance has indicated that the world’s leading crypto exchange is actively preparing for an increase in crypto trading, especially in bitcoin halving outlook which will take place around April 2024.
The Bitcoin halving, the halving of rewards for BTC miners, takes place every four years, it has so far always been followed by a bull cycle for the BTC price and the entire cryptocurrency market.
“If we look at historical patterns, we will be prepared for higher volumes.
The year after the Bitcoin halving is usually the year of the bull.
We are still very early. I think the industry still has a lot of room to grow.
So I’m still optimistic. I’m a builder, so I always have a positive outlook on things. »
— Binance (@binance) 5 July 2023
If the CEO of Binance aims at 2025, the year after the next Bitcoin halving, which will take place in 2024, as the future period of the bull cycle of the Bitcoin price, however, the current situation in the crypto market is completely different with the recent . requests for Bitcoin ETFs that have been deposited by financial giants such as BlackRock, Fidelity, Ark Invest, Valkyrie, WisdomTree or Invesco.
In fact, the launch of one or more spot Bitcoin ETFs in the US in the coming months could trigger a significant upward movement for the Bitcoin price and the entire crypto market.
It is therefore necessary to considerthe possibility of the start of a bullish cycle for the BTC price, which would then occur before the Bitcoin halving in 2024.
A conceivable scenario in light of the billions of dollars that could rise in Bitcoin if a spot Bitcoin ETF were to be approved by the US regulator SEC in the coming months.
If Binance is preparing its infrastructure for a future significant increase in crypto trading, the crypto exchange has also announced that it will remove the deposit addresses of certain major cryptocurrencies such as Bitcoin (BTC), XRP or Dogecoin (DOGE) to replace them with new ones, click here to learn more.
Compared to Bitcoin price, it is currently around 30410 dollarsclick here to follow BTC price in real time.
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