Binance CEO Changpeng Zhao has stated that Bitcoin may reach a new milestone in its historical performance this year by breaking its traditional four-year financial cycle. According to him, the growing global acceptance of cryptocurrency increases the likelihood of Bitcoin achieving new price highs in the coming months. Binance, the world’s largest cryptocurrency exchange, facilitates the buying and selling of Bitcoin along with various other digital currencies. Bitcoin, the first and most popular cryptocurrency, typically experiences price fluctuations in four-year cycles linked to halving events, which reduce the mining rate and usually lead to price increases. Zhao emphasized that this cycle could be different due to significant growth in cryptocurrency adoption worldwide. Governments, financial institutions, and major corporations are now accepting cryptocurrencies as investment assets and payment methods, contributing to market stability and expansion. However, the cryptocurrency market still faces significant risks from regulatory challenges and market volatility. Experts advise investors to remain cautious given the potential for sudden price swings. Trading volumes of Bitcoin through Binance and other major platforms continue to rise daily, indicating its increasing importance in the global financial system. Investor interest and market performance in the coming months will be closely monitored to determine whether Bitcoin can indeed break its traditional cycles.
Source: coindesk
