According to the CEO of the world largest cryptocurrency exchange, Changpeng Zhao, the bull market is about to return “Any Minute”.
“Bull Market might return Any Minute”
Changpeng Zhao, CEO of Binance, expressed his positive views on the upcoming future of the current crypto market during an interview with the CryptoGlobe at Consensu: Singapore 2018 conference.
The year 2018 has seen major fluctuations and volatility in the market. But comparing the current market conditions with the year 2015, its no question that 2018 has seen a strong support at $6000 as the support level in 2015 was just $200. Mr Chengpeng is looking at the yearly prices very carefully, hence he doesn’t believe that the market has been bearish at all.
If we focus on the market on the monthy or weekly basis, we can see some incidents of the Bear Market, but it was $20k for a week or so.. considering the current conditions of the market, the future looks promising for the crypto investors in a long term. He believes that the Bull market will return soon than later. Mr Chengpeng Quoted:
“So, I think that any minute the bull market will return, and historically, October to December are the good months. Before Christmas are usually the months when the markets go up very often, but I am not saying that it will this year, or that it will not.”
FIRM ON HIS FEET
As the CEO mentioned him being not a trader rather a HODLer, earlier in September Zhao expressed his disagreement with Vitalik Buterin’s statement that there is no room for “1000x price increases.”
At the time, CZ said that “crypto will absolutely grow 1000x and more! Just reaching USD market cap will give it close to 1000x, (that’s just one currency with severely restricted use case), and the derivatives market is so much bigger.
However he seems to be more optimistic, outlining that not only he will keep his tweet up, but he’ll also retweet it when the time comes.
“I think it’s gonna be much more. So I’m gonna keep that tweet, and when we get there, I really don’t know when, but we when get there, I’ll retweet that tweet.”
Are you feeling pessimistic still?
Image courtesy: Medium.com
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