CZ: Current Pullback Still Within Normal Four-Year Cycle, Industry Fundamentals Significantly Stronger Than Before

Odaily Planet Daily News In an exclusive interview with Galaxy Research Head Alex Thorn on the Galaxy Brains podcast, CZ stated that the current crypto market pullback remains within the range of a normal four-year cycle. The current ~50% drawdown is not unusual, as historical cycles have seen drawdowns of up to 80%.

CZ believes that if measured from the cycle's low point, Bitcoin's price is still approximately 5x higher than four years ago, and the low point of each cycle is higher than the previous cycle's low. He stated that he has always adhered to a long-term perspective, adding, "For me, there is no exit from crypto."

CZ also pointed out that the biggest difference between this cycle and 2018 and 2022 is the significant shift in the U.S. government's attitude towards the crypto industry. Previously, the U.S. adopted a suppressive stance towards the industry, whereas now it is actively promoting the construction of a crypto regulatory framework, prompting other countries to follow suit. Furthermore, the entry of ETFs, stablecoins, RWAs, and more institutional capital also indicates that the industry's fundamentals have significantly improved compared to the past.