CZ: Cryptocurrency Market Still in Normal Four-Year Cycle, Cycle Low Continuing to Rise

BlockBeats News, June 20th, Binance founder CZ participated in the Galaxy Brains podcast and was interviewed by Galaxy Research Director Alex Thorn. CZ stated that the current crypto market retracement is still part of the normal four-year cycle, with a roughly 50% retracement in this round, which is not uncommon. An 80% retracement has occurred in previous cycles. He believes that compared to the previous cycle's low point, Bitcoin has still risen by about 5 times from four years ago, and each cycle in the long term is higher than the previous one. CZ stated that he maintains a long-term position in the crypto industry, saying, "Crypto has no exit for me."

In comparison to 2022 or 2018, the biggest difference in this cycle is the 180-degree shift in the U.S. government's attitude toward the crypto industry. He mentioned that four years ago, the U.S. government took a suppressive stance towards the crypto industry, while currently, the U.S. is pushing for crypto regulatory frameworks and discussions, leading other countries to follow suit. CZ also mentioned that ETFs, stablecoins, RWAs, and more institutional participation all demonstrate a significant improvement in the industry's real development.