u.today
Today, the price of the major cryptocurrency Bitcoin (BTC) set a new all-time high above $75,000, with an increase of almost 7.2% since the beginning of the week, and we are talking about a $1.45 trillion asset. As a result, the entire crypto market went up, and its total market capitalization, represented by the TOTAL index, rose to its highest level since June at $2.457 trillion.
Many experts, traders and prominent entrepreneurs in the crypto industry began to express their opinions and projections regarding new all-time highs. However, the most iconic reaction came from former Binance CEO Changpeng Zhao, known as CZ.
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
It was indeed a good morning when some of the alternative cryptocurrencies, such as UNI of Uniswap or Dogecoin (DOGE), added double digits in a few hours, and Bitcoin itself renewed its historic high for the second time in a year.
Bull run in 2025? CZ reacts
Previously, at Binance Blockchain Week, CZ gave his outlook on the crypto market, Bitcoin and what his expectations are for next year, 2025.
The entrepreneur, who was just released from U.S. jail after the Binance raid by U.S. law enforcement, said that in his opinion, the crypto market is ruled by four-year cycles.
As he presented, 2013, 2017 and 2021 were all bull markets, with years before them serving as a recovery period. In this case, he suggests the idea of a real bull run in 2025, although CZ refrained from making any concrete predictions about it.
On the other hand, Zhao confirmed that his long-term outlook is bullish.