Bitcoin surpassed $123,000 in July, setting a new all-time high. But for Changpeng Zhao (CZ), founder of Binance, this impressive number is just the beginning. On his X account, where he has over 10 million followers, he made it clear: this surge is only a fraction of what Bitcoin can reach in the long term.
🚀 CZ’s Journey with Bitcoin: From Fear to the Top
CZ began his journey with Bitcoin in 2014, purchasing coins at around $1,000 each. At the time, many believed the asset was a bubble about to burst. Still, he decided to invest, fully aware of the risks.
“After I bought Bitcoin in 2014, it took 3 years to reach a new high of $1,000 in January 2017. We were excited. Now, that’s just a fraction — less than 1%,” CZ wrote.
That same year, Bitcoin soared to $20,000 by the end of 2017, marking a new era in the crypto market. It was also during that time that CZ founded Binance, which would go on to become one of the largest exchanges in the world.
⏳ Cycles, Patience, and Vision: CZ’s Secret to Success
After hitting $20,000, Bitcoin entered a bear market from 2018 to 2020, losing over 80% of its value. While many investors panicked, CZ stayed true to his philosophy: wait and grow.
Over time, the market rebounded. In 2021, Bitcoin reached $69,000. In 2024, it hit $73,000, and in 2025, it climbed to $123,000 — setting a new peak.
CZ emphasizes that, just as $1,000 seemed huge in 2017 but now feels insignificant, today’s peak will also feel small in the future.
“One day, today’s prices will just be a small part of the past. Be patient,” he advised.
📉 Corrections Are Part of the Journey
The current Bitcoin rally follows historical patterns, with several 30% to 40% corrections typically occurring during bull markets. So far, the largest correction in this cycle has only been 23.48%, suggesting a more resilient market compared to previous years.
In earlier cycles, the drops were much sharper:
- 2013–2015: an 87% drop after Mt. Gox collapsed (from $1,100 to $152)
- 2017–2018: from $20,000 to $3,200 (an 84% drop)
- 2021–2022: from $69,000 to $15,600 (a 77% drop)
Even in 2017 — a year of massive growth — Bitcoin experienced four major corrections between 29% and 40% before reaching $20,000.
More recent cycles, however, have seen smaller drops, often between 20% and 25%, suggesting a more mature market and increased institutional involvement.
📈 Bitcoin Breaks Limits and Attracts Institutional Investors
With a market cap of $2.39 trillion, Bitcoin has surpassed giants like Amazon and become the fifth most valuable asset in the world.
Institutional investors — including pension funds, hedge funds, and family offices — have begun allocating around 1% of their portfolios to Bitcoin. The IBIT ETF reached $76 billion in assets under management in less than a year, something the gold ETF took 15 years to achieve.
🔁 The Pattern of Exponential Growth
Technical analysis shows that Bitcoin follows a clear exponential pattern. The logarithmic chart indicates that each bull cycle leads to higher highs.
Experts predict the price could reach $150,000 or even $200,000 by the end of 2025, though corrections of up to 30% may still occur along the way. For long-term investors, these dips may present new buying opportunities.
💡 The Case of BNB: Another Winning Bet
CZ also commented on the growth of BNB, the cryptocurrency linked to Binance. Launched in 2017, it went from $0.06 to $800, representing a return of over 10,000x for early believers.
⚠️ Caution: Investing Requires Care
Despite CZ’s optimism and the impressive numbers, it’s important to remember that the cryptocurrency market is highly volatile. Bitcoin’s price can be influenced by regulations, global events, technical failures, and emotional factors.
That’s why it’s crucial to study the market, assess your risk profile, and only invest money that won’t compromise your financial security.