Cryptocurrency Market Overview

Looking at the current situation on the cryptocurrency market, one can wonder how everything was "blooming and smelling" three days ago. Back then, Bitcoin (BTC) was trading above $108,000, Ethereum was valued at an arm's length away from $4,000, and Solana failed to collapse 34% from its all-time high.

Few would have thought the situation could change so much by Friday, but there is one person in the crypto market who planted the seed of such an idea.

We are talking about Changpeng Zhao, or CZ as he is better known in the crypto space, the former head of the world's largest crypto exchange, Binance.

In a tweet dated Dec. 17, CZ stated in one of his tweets that he was waiting for headlines as the price of Bitcoin dropped from $101,000 to $85,000 and also quite ambitiously asked to "save this tweet." Fast forward three days, and here we are.

The concerned crypto public did not fail to call out the former Binance CEO for such predictions, to which he responded with a more bullish post. Zhao stated that we should expect to see more headlines discussing Bitcoin hitting an all-time high and, moreover, it will continue "again, and again, and again," according to CZ.

Zhao mentioned the cyclical nature of the cryptocurrency market earlier. Based on what he said, it was assumed that similar to previous market events, a real bull market could occur in 2025, while this year is more of a recovery phase after a bear market.

Whether CZ's expectations come true or not, and whether Bitcoin will update its all-time high, we will find out in the very near future.

This article was originally published on U.Today