"It's really hard to know where BTC will be at the halving time, we just have to be ready."
Changpeng Zhao (CZ), the Chief Executive Officer (CEO) of Binance which is now more focused on the halving of the cryptocurrency Bitcoin (BTC) has predicted a new high it will reach after the event.
However, it should be noted that CZ has given some non-financial advice for individuals who are more interested in FOMO and acting in haste.
Then, CZ recently also shared some of his opinions about the situation that can occur when the BTC halving event is getting closer, following his experience of halving three times in the past.
He said crypto investors can face a lot of pressure during the BTC halving event as news, hype, concern or hope through social media can increase bullish or bearish sentiment.
However, such conditions can allow users to expand their BTC portfolio or place large bets that may not go as expected.
Even so, CZ warns that the crypto market can be volatile and difficult to predict, so investors may be surprised if the price of BTC doesn't double overnight.
He further added that BTC could reach the next high but during the halving event in May 2020, the price only rose around $8,000 then in the first quarter of 2021 the digital asset climbed by 231% at $29,000.
Despite the ongoing decline in the crypto market at the moment, BTC managed to rise from $16,000 in January 2023 to $27,545 which is a recovery of about 66%.
