Tweets hinting at a possible upcoming bull run were made by the CEO of Binance, and “Pomp,” the popular figure in the cryptocurrency world on July 31st, 2018. While no official statements were released, Changpeng Zhao, the CEO of the popular exchange and trading platform Binance, did hint toward a possible bull run that may occur between September and December in the tweet that went viral.
The 2017 Cryptocurrency Bull Run
In December 2017, Bitcoin, often dubbed as the king of all crypto coins, saw massive growth in value within a very short period of time. At the start of 2017, as the world celebrated the new year, the price of this cryptocurrency reached $1,000. During the first two quarters of the year, the price of Bitcoin remained stable. The value started to increase in the third quarter of 2017. At the end of the year, in December, a surprising bull run was noticed when Bitcoin’s value almost reached $20,000 for a single coin.
Just as New Year stroke in 2018, the value of the Bitcoin cryptocurrency gradually started to decline again. By the 6th of January 2018, the moments of rejoicing for those who have gained so much from their investment in Bitcoin came to an end. The value of the coin dropped to the point where a single coin was worth less than $10,000.
Several speculations have been made regarding why the bull run ended so quickly, and why the coin’s value dropped by more than half in such a short period of time. One particularly popular speculation is that the end to this bull run was, at least partly, contributed to by the Bitcoin Futures project.
CEO Of Binance Hinting Towards Another Bull Run This Year
This week, popular Twitter user “Pomp” published a Tweet about the fact that traders considered themselves “geniuses” during last year’s bull run in the cryptocurrency market, but it does not seem like the same will happen this year.
Soon after his Tweet, the CEO of Binance, a major player in cryptocurrency exchanges, Retweeted his post, along with a comment:
“The year is not over yet. 😊 It seems people become geniuses around Sept-Xmas.”
Although no details were released by the company or Changpeng Zhao (CZ), cryptocurrency enthusiasts are now making several speculations based on the comment that was made. For most people, this seemed like a hint toward another bull run that might occur this year again.
Earlier this month, it was also suggested that we might see another bull run in 2018 by several publications.
It is most certainly possible for another surge in Bitcoin’s value to take place within the next few months. Other cryptocurrencies may join as well. Recent events, such as the release of Coinbase Custody, have given higher ranking individuals and institutions an opportunity to invest their money in the cryptocurrency market safely.
The fact that Binance has opened a new cryptocurrency exchange organization in Malta, due to the passing of three cryptocurrency regulatory bills, may also be a reason for the CEO of the company to make such a comment.
Despite the bull run hints, no changes in Bitcoin price were observed up until now, the price of the coin has been going down for the last couple of days. However, it is still early to judge whether these comments will come true. We have an entire month to go before we reach September, and much can happen between now and then. In any case, holding on to your Bitcoin, for now, might be a wise decision.
Last year, we saw a bull run in cryptocurrency prices, with a particular focus on Bitcoin. After a Retweet from the CEO of Binance, commonly known as CZ, it is now speculated that this year will see a similar bull run. Some people are skeptical, but you may want to hold onto their coins to see what happens between now and the end of the year.