Binance founder and former CEO Changpeng Zhao has once again shaken up the Crypto community with a new post on social media platform X (formerly Twitter) about Bitcoin. The founders, who believe that many have called the top and bottom of the market at different times, are very upset and trigger a big move in the market. It is therefore not surprising that his latest post, talking about his participation in the crypto market in the past, has been interpreted as bullish by many.
Binance’s founders show where the market has been in the past
A post shared by the founder of Crypto shows what Bitcoin appears to be at a low price of $4,300. He emphasizes that this is eight years ago in 2017, indicating where the September market was and what happened afterwards.
At the time, the market appears to have come out since another bearish September, with Bitcoin prices below $5,000. However, the next few months, the last quarter of the year, proved to be extremely bullish for Bitcoin prices.
After September ended, October 2017 was significantly bullish, with prices rapidly crossing the $5,000 threshold. Over the next few months, Bitcoin prices rose more than 200%, reaching a new high of $19,000 before the 2018 Bear Market began.
Community members are hoping for Bitcoin Bull Run
A post by the founder of Binance read, “Don’t predict the future. Don’t get too excited. September of the past (my first) crypto cycle. Just data.” So far, the tweet has earned over 1 million views and 3,000 comments and quotes, and mostly predicts that most Vinance CEOs are predicting a bull run.
One analyst points out that CZ had previously marked the local top and bottom, and believes the post points to the concept of seasonality in the market. If CZ posts a chart showing Bitcoin prices before it becomes a Bull Run, analysts believe this could be the start of another run.
Another community member, Stygian, claims that CZ is piloting the market up and down, and that people can see it. But another reaction goes against grain, saying that what’s happening now is simply a wealth transfer, not the kind of gathering that retailers are hoping for.
Despite the conversations that the Post sparked, the market continued to be low, with Bitcoin making use of around $113,000 at the time of the Post. With the opening of a new month, investors continue to anticipate bullish gatherings across Bitcoin and the market.
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