Binance CEO Changpeng Zhao’s interest in cryptocurrency in the last five years is not a subject of any debate as he has undoubtedly carved a niche for himself by turning his passion into one of the most successful crypto exchange in the globe.
The vibrant entrepreneur has not only featured on Forbes magazine but also covered the magazine and gained recognition as one of the wealthiest crypto entrepreneurs in the emerging sector.
The Bull Market Will Return Any Minute?
Having previously aired his belief that Bitcoin was still in a good position, the CEO agrees he can “kind of influence” the price of cryptocurrencies being an extrovert kind of exchange operator, he also disagrees with the bear market point of view by pointing at Bitcoin’s seemingly unbreakable support at $6,000. He also suggested a ‘long-term’ strategy as being the best option as he pointed at the $20,000 which was the apex of Bitcoin but did last more than a ‘week or so.’
Though CZ categorically stated that does not like to analyze markets because whatever comments he makes usually gets super scrutinized, he went ahead to comment that he is optimistic “that any minute the bull market will return,” with a hint that cryptocurrency ecosystem might record October to December as ‘good months.’
Judging by history, it appears that the cryptocurrency market usually experiences a drastic growth in the fourth quarter of every year. Nothing corroborates this fact more than the Bitcoin boom of 2017, where the price when as high as $20,000 before it fell to as low as $5,800 in Q1 of 2018, though its price is stabilizing at $6,400 in the Q4 of 2018. He describes his market approach as “buy and hold.”
CZ’s Five-Year Target for Binance
In a recent interview with CryptoGlobe, the Binance CEO appears not be relenting despite having achieved much within a while. He is more future-oriented with the Binance exchange platform and the crypto sector as a whole. In addition to developing a decentralized version of its cryptocurrency exchange, the Binance team has continued to explore the blockchain technology with the hope of growing the wallet space despite a partnership with Trust wallet.
CZ’s sees the emerging sector as a fully blown sector in the next five years, he was of the opinion that he would be doing his best possible “push education and charity,” and other responsibility socially expected of him.
When the CEO was asked about his ‘1000x’ prediction of the crypto market cap in USD, the prediction which he made via Twitter platform while disagreeing with Ethereum creator, Vitalik Buterin, who stated that the days of ‘1000x’ growth in cryptocurrency was over. CZ stood by his comment and further reaffirmed that the market could even grow ‘much more’ than his prediction in a matter of years as crypto falls into the mainstream.