CZ's biggest prediction has nothing to do with Bitcoin

All right, welcome to a new episode of Power Players with Brian Sozzi. I'm your host Brian Sozzi and I have a special guest here, someone that I've I've followed his career and background for a while, but I've actually never seen him physically in person. So, this is the first time for me. He always would come remote.

Changpeng Zhao, better known as CZ. I know him as CZ. Y'all who know and follow Bitcoin probably know him as CZ, too. It's good to see you in person. >> Yes, absolutely. It's a great to be here. It's good to meet you in real life. >> [laughter] >> Likewise, likewise. Let's talk about Let's talk about crypto

first because that was the last conversation I had with you in November 2022. Since that time, of course, we've seen the crypto boom. It's become embraced by so many people, even regulators, too, finally, of course. Like, what is your thinking on the current state of play in crypto? >> I think there's actually a lot of

parallels. Crypto goes in 4-year cycles. So, there's a lot of parallels between November 2022 versus now. November 2022, if I remember correctly, the Bitcoin price was about $16,000. This is after This is like, you know, post Actually, November is like right post the FTX crash. This is post Luna USD crash. That was in May 2022. It

feels like yesterday. It feels like yesterday. And then, I think the early November was the FTX crash. And in December, by the time we talked, it's like probably like, you know, right right on the bottom at that on that cycle. So, right now, we're in a like a what we call a bear market again.

Bitcoin dropped to 60,000. So, there's quite a lot of similarities in in in in mood. But, if you look at the prices, you know, it's three still three, four x higher than than the last than 4 years ago. So, I'm pretty I'm pretty optimistic I'm still very optimistic about the industry, but we're going through a