Another bitcoin bull market? Crypto bigwigs are keen to call it — Quartz

After a steep fall in late July and early August, the price of bitcoin has recovered recently, rising by some 15% in the past few weeks to above $7,000. Amid the many ups and downs in crypto markets—more downs than ups, these days—some people are eager to call the upturn the start of something bigger.

“I have a feeling this bull run will be a pretty significant one,” tweeted Changpeng “CZ” Zhao, founder of crypto exchange Binance, to his 213,000 followers. Then, shortly after posting his cheerful prediction, he deleted the tweet, but not before some sharp-eyed users saw it.

To casual observers, the tweet may seem unusual. What is the CEO of the world’s largest crypto exchange doing posting a price prediction? Would the boss of Nasdaq or the New York Stock Exchange ever be so bold?

It doesn’t look like the tweet had a discernible impact on crypto prices, as trading on Binance closely mirrored global prices. That said, the episode reflects a deep-seated bullishness…