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Leave this field empty if you're human: A lot of people who were here in for quick gains have burnt their fingers and the investors who are still holding on are expecting prices to rise and the glory days to return. Bear market could soon come to an end The Crypto exchange authoritarian, Changpeng Zhao who is the person at the helm of the largest cryptocurrency market believes the ongoing cryptocurrency bear market could soon come to an end.
Understand blockchain and crypto is not going away, other than the non-believer speculators that was shaken out they will come backadoption is increasing.
While in any other market this would seem like a total collapse, BNB has actually outperformed every other major cryptocurrency YTD.
This is especially notable as the losses occurred in the initial sell-off to start the year. Assia, who oversees one of the biggest online trading platforms in the global finance sector with more than 8 million users, said that market correction was necessary in order for the crypto market and industry to mature, establishing a foundation for future rallies.
He emphasized that the demand for Bitcoin and cryptocurrencies as an emerging asset class has not declined even after the 78 percent correction in the valuation of the crypto market. If both comments are conjoined and read together markets are surely turning the tide and its retail investors only that are doing the trick.
Once the hurdle of Bitcoin ETF is over, either way in approval or denial, the institutional investors which are still on sidelines will start flowing.
And subsequently, once players like ICE start their federally regulated ecosystem for cryptocurrencies, the investment would have a multiplier effect. The position in which Changpeng Zhao and Assia sit, their view towards the future is much clearer and wider for people and hence their comment makes cannot be taken as a passing one.
Do you think the analysis by CZ about the bear market is correct or it is a passing comment to keep the markets at peace? Do let us know your views on the same.Binance CEO, Changpeng Zhao recent tweet would definitely bring some relief to such investors whose patience might soon run out as has not been a great year for crypto bulls as was.
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