Changpeng Zhao, CEO and founder of Binance, has confirmed Bitcoin's current trends with historical patterns from 2014-2016.
Blockchain Backer, a video channel focused on the cryptocurrency market, published a post on its X (Twitter) page in which it clearly demonstrated the parallels between Bitcoin's movements in 2014-2016 and current realities.
Changpeng Zhao expressed full agreement with the information presented, commenting, "History rhymes."
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The year 2016 is considered a key date for Bitcoin, as it was the year when the price of the asset was able to break out of a set range and reach its first all-time highs, U.Today reported.
In his past statements and speculations, the Binance chief has repeatedly stated that Bitcoin could repeat its cycles that occurred during previous halvings and reach a new price high.
At the same time, Zhao believes that the price of Bitcoin will rise gradually, contrary to the opinion of many experts who expect a sharp rise.
"A year after being halved, the price of Bitcoin reaches several ATH," Zhao said.
It is worth noting that the escalating military conflict between Israel and Hamas, which could spread to other countries in the Middle East, could make a difference in Bitcoin's future trends, as investors are rapidly leaving the market for risky assets and putting their money into gold, Treasury bonds, the US dollar and the yen.
Global experts have already stated that this conflict will severely damage the global economy.
Read also: Bitget presented September data on the user protection fund.
