CZ: The current pullback still falls within the normal four-year cycle, and the industry's fundamentals have significantly strengthened compared to the past.

Odaily Planet Daily reports that CZ said in an interview with Alex Thorn, Galaxy Research Director, on the Galaxy Brains podcast that the current crypto market pullback is still within the normal range of a four-year cycle. A retracement of about 50% in this round is not uncommon, and historical cycles have seen drawdowns as high as 80%.

CZ believes that, when measured against cycle lows, Bitcoin’s price is still up by about 5x compared with four years ago, and the low point of each cycle is higher than the low point of the previous cycle. He said he has always stuck to long-termism: “Crypto has no exit for me.”

CZ also noted that the biggest difference between this cycle and the ones in 2018 and 2022 is that the U.S. government’s attitude toward the crypto industry has changed significantly. Previously, the U.S. took a suppressive stance toward the industry, but now it is actively working to build a crypto regulatory framework, which is also driving other countries to follow suit. In addition, the entry of ETFs, stablecoins, RWA, and more institutional capital shows that the industry’s fundamentals have improved markedly compared with the past.