The price of bitcoin (BTC) might be below the 69 thousand dollars until the year 2024, so stated the CEO of Binance, Changpeng Zhao.
“Given this fall in the prices of the cryptocurrenciesit will probably take a few months or a couple of years to recover,” Zhao said during a interview to the British newspaper The Guardian.
He assured that people would have been “very happy” in the year 2018 if you had been told that bitcoin would be worth $20,000 in 2022.
“At Binance we believe that $20K is very low today. But you know, in 2018 – 2019, if you had told people that bitcoin would cost $20,000 in 2022 they would be very happy. In 2018 – 2019, bitcoin barely cost between $3,000 and $6,000”.
.@cz_binance just now on #cryptocrash: «I think the worst part is probably over. We’ve seen a pretty sharp drop.»
He added that the industry will take a long time to recover.
— Sandali (@iamsandali) June 22, 2022
“The worst part is over”
Changpeng Zhao stated that despite the downward trend in the cryptocurrency market “I think the worst part is probably over”.
During his participation in theWorld Zero Forum” held in Zurich, Switzerland, Zhao said it will take a long time for the industry to recover because “we saw a pretty steep drop”.
He stressed that the cryptocurrency regulation will help manage market risks; however, he noted that it will not solve all the problems.
“In regulated markets, companies fail. Las startups fail. Therefore, failure is part of the innovation system,” he said.
Cryptographic businesses
When asked regarding creating businesses in the cryptocurrency ecosystem, Changpeng Zhao said: “If incentives are used to attract users, that is not a real business model. Eventually they will run out of money and their project will collapse.”
Finally, the CEO of Binance gave his opinion on the privacy system in the exchange: “We do not sell the data of our users. We don’t even extract your data,” she said.
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Now you can buy bitcoins with local currencies from Latin America and without commissions on Binance
You can buy and sell bitcoins and other cryptocurrencies on Binance P2P with the local currency of Venezuela, The Savior, Argentina, Colombia, Chile, Uruguay, Peru, Bolivia, Paraguay, Brazil, Mexico y Dominican Republic.
In Venezuela it is available purchase of cryptocurrencies with bolivars through the Mercantil, Provincial banks, with bank transfer, mobile payment and PayPal.
To start buying, selling and trading cryptocurrencies on Binance you must have an active and verified account. It is easy.
In Morocotacoin.news now you can see these simple tutorials to get you started in buying and selling cryptocurrencies:
- learn how register on Binance to buy and sell bitcoin and other cryptocurrencies. Here.
- How to do identity verification or KYC on Binance to open or continue using your account. Here.
- How to buy bitcoin with bolivars on Binance P2P in 5 steps. Here.
- Binance P2P tutorial to buy and sell cryptocurrencies with bolivars, pesos and soles. Here.
- How to buy and sell bitcoins on Colombia? Guide to earn money with BTC through Binance P2P. Here.
- How to add new payment methods for buying and selling cryptocurrencies on Binance P2P. Here.
- Learn to ride one sale order of bitcoins on the Binance exchange. Here.
- Do you want to know how to sell your bitcoins with a Order Limit on Binance? Learn how to do it and its usefulness. Here.
- How post ads on Binance for buying and selling cryptocurrencies. Here.
- Tips for secure your purchase and sale of cryptocurrencies on Binance P2P. Here.
