Binance CEO: Bitcoin will recover faster than the Nasdaq
Home News Binance CEO: Bitcoin will recover faster than the Nasdaq
Marcel Knobloch –
The crypto market is experiencing since some weeks a strong downward trend, with the prices of crypto currencies are only one side of the coin. The adaptation progresses still further and the Blockchain technology will prevail. The CEO of Binance is confident that the bear market can be overcome.
Changpeng Zhao, CEO of Binance, compares in an Interview with Forbes, the current Situation in the crypto market, with the former starting point is the Nasdaq, before the Dotcom bubble burst. Zhao argues that a recovery of Bitcoin and the crypto market faster (freely translated):
The crypto industry is here to stay. I don’t think that goes away. The Blockchain technology is maintained. The Adoption time is getting bigger. This is very different from Nasdaq. The Nasdaq is much larger. Their market capitalization is much larger. So if you have a large ship that goes down and then comes back, it will slow down. It takes so long.
I think that the things in the crypto field will be much quicker. Therefore, I am very confident.
The news of the last months of the year were consistently positive, large events are imminent. Bakkt will start, the Nasdaq is laying on Bitcoin Futures and the approval of multiple Bitcoin ETF’s. These are not guarantees for a new crypto-spring, however, is neither Bitcoin nor crypto currencies are dead, like it in some of the major media will be propagated. Zhao is confident that Bitcoin will rise to its true value, however, he makes no statement when this will happen (freely translated):
In the last time there was a lot of positive news for crypto. The Nasdaqs operate an Exchange. NYSE implements a crypto exchange. A list of Futures contracts. There are many new developments, many new companies, many new people in this industry.
So, I have seen only positive things, but the price drops for the last time. So it makes no sense to me. But what I do know for sure is the price. At the Moment, the courses will show a development in the wrong direction, which is kind of weird. But I am very confident that you will sooner or later come back.
The complete Interview is there to see in this Video: