#Binance CEO Predicts A Bitcoin And Crypto 'Bull Run'
Bitcoin and cryptocurrency holders have been waiting all year for the next bull run, hoping the bitcoin price will return to (and even exceed) the near $20,000 price per coin it reached late last year. However, the bitcoin price has been stuck in a downward trend all year—dragging the wider cryptocurrency market with it. The bitcoin price is down some 70% from its peak while the likes of other major cryptocurrencies ripple (XRP) and ethereum are down around 80%.
Now, the respected chief executive of bitcoin exchange Binance, Changpeng Zhao, has said he expects another bitcoin "bull run" to happen "sooner or later", telling CNBC's Crypto Trader program: "Even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen... Sooner or later, something will trigger it." Changpeng Zhao, often known by his initials CZ, said that while bitcoin and cryptocurrency trading on Binance, the world's largest exchange by volume, is down almost 90% from January he still feels the company and the wider market are healthy.