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Binance bitcoin

Binance Founder Triggers Bitcoin Bull Run Expectations With Cryptic Tweet

Scott Matherson
by Scott Matherson
54 minutes ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Binance founder and former CEO Changpeng Zhao has shaken up the crypto community again with a new post about Bitcoin on the social media platform X (formerly Twitter). The founder, who many believe has called the top and bottom of the market various times, holds significant sway over the market, triggering major movements. Thus, it is no surprise that his latest post, talking about his participation in the crypto market in the past, is being interpreted by many as bullish.

Binance Founder Shows Where The Market Was In The Past

The post shared by the crypto founder shows what looks to be the price of Bitcoin sitting as low as $4,300. He highlights that this was from eight years ago in 2017, showing where the market was for the month of September and what happened after.

Related Reading: What To Expect From The Dogecoin Price In October After A Green Monthly Close

At the time, the market looks to be coming out of another bearish September, with the Bitcoin price trading below $5,000. However, the next few months, which were the last quarter of the year, turned out to be incredibly bullish for the Bitcoin price.

After September drew to a close, the month of October 2017 was significantly bullish, with the price quickly crossing the $5,000 threshold. In the next few months, the Bitcoin price ended up rising by over 200%, to reach a new all-time high of $19,000 before the 2018 bear market began.

Binance founder Bitcoin
Source: X

Community Members Expect A Bitcoin Bull Run

Even though the post by the Binance founder read: “Not predicting the future. And don’t get too excited. A September in a past (my first) crypto cycle. Just data,” it did little to stop the speculation that followed. So far, the tweet has garnered more than 1 million views and 3,000 comments and quotes, with most predicting that the former Binance CEO is predicting a bull run.

One analyst points out that CZ had previously marked the local top and bottom and believes that the post is pointing out the concept of seasonality in the market. With CZ posting a chart that showed the Bitcoin price before it went on a bull run, the analyst believes that this could be the start of another run.

Related Reading: Not A Fan Of Ethereum? ARK Invest’s CEO Cathie Wood Reveals Favorite Crypto

Another community member, Stygian, claims that CZ has been the one steering the market up or down, and that people can see it. However, another response goes against the grain, saying that what is happening now is simply wealth transfer and not the kind of rally that retail is expecting.

Despite the conversations that the post has triggered, the market continued to trend low, with Bitcoin skirting around $113,000 at the time of the post. With the opening of the new month, investors continue to anticipate a bullish rally for Bitcoin and the entire market.

Bitcoin price chart from Tradingview.com
BTC continues to hold $114,000 | Source: BTCUSD on Tradingview.com
Featured image from Dall.E, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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