Fill Out Form

Talk to Our Experts

A Bitcoin Exchange Boss Thinks Jeff Bezos Will Trigger The Next Bull Run

A Bitcoin Exchange Boss Thinks Jeff Bezos Will Trigger The Next Bull Run

DateJan 03, 2019

Bitcoin and cryptocurrency investors have battened down the hatches for what could be a long crypto winter, the name given to the bitcoin bear market that has mauled prices over recent weeks.

But many bitcoin and crypto faithful are eagerly looking towards the next bitcoin price bull run, which they remain confident will come eventually.

Now, the chief executive of major global bitcoin and cryptocurrency exchange Binance, Changpeng Zhao, has said he expects Jeff Bezo's online retail giant Amazon to be the catalyst for the next bitcoin bull run.

Changpeng Zhao, often known simply as CZ, took to Twitter to ask his followers what they think the trigger for the next bitcoin bull run will be. When one wag, Crypto Guy @Ankit4043, joked that CZ could spark a bull run by buying all the bitcoins currently in circulation, CZ replied that he couldn't but Amazon CEO Jeff Bezos, who's often the world's richest person largely due to Amazon's soaring share price, perhaps could.

"Easier to bring crypto to [Bezos]," CZ tweeted, in response to @Ankit4043 suggesting CZ (who ahead of the recent rout that's wiped billions of dollars from the cryptocurrency market predicted an incoming bull run) should bring Bezos on board at Binance. "Waiting for the day Amazon accepts (or issues) crypto," CZ said.

"I get asked [what will trigger the next bull run] often, and honestly, I don't know the answer, other than keep building," CZ added.

Bitcoin's epic 2017 bull run, which saw the price explode from under $1,000 at the beginning of the year to an eye-watering almost $20,000 in fewer than 12 months, has been put down to the expectation institutional investors were gearing up to step into the space.

As 2018 rolled on and that investment from the established financial industry failed to materialize, many bitcoin and cryptocurrency holders bailed out of their positions, nervous the looming threat of increased regulation and shadows of doubt swirling around general adoption and usage of bitcoin and cryptocurrencies could mean the bottom was about to fall out of the market.

Last month, this fear became a reality as a civil war in the bitcoin cash developer community threatened to tear the bitcoin rival apart and led to some threatening they would rather see bitcoin and cryptocurrency prices collapse entirely than give up their positions.

Bitcoin and cryptocurrency adoption has been a major criticism of the sector in recent months after many expected the surging price to mean a raft of retailers would begin accepting bitcoin.

There have been signals that increased adoption and use of bitcoin could be just around the corner, but until stores like Amazon make firmer moves to accept digital tokens, confidence will continue to seep out of the market.

Source: forbes.com

 

© 2019 All Rights Reserved.