Binance CEO: Bitcoin Bear Market ‘Healthy’ for the Crypto Industry in the Long Term

Binance CEO Changpeng “CZ” Zhao believes that the Bitcoin Bear market is good for cryptocurrency.

Speaking with Messari CEO Ryan Selkis at the Mainnet conference on Wednesday, Czechoslovakia – which has been remotely connected via video chat – for four years said encryption The market cycle is natural and a bear market is healthier in the long run than an uptrend that never ends.

“Price corrections are actually good,” CZ said, adding that investors should not look at token prices as signs of how the crypto market is doing.

Instead, he suggested investors consider the number of users who buy and use cryptocurrencies, as well as the number of different users. Blockchain And the web 3 project. He reiterated the popular cryptocurrency statement that the industry is still in its “early days” and still has plenty of room for growth.

“Cryptography is very early. We are not in a saturated market, says CZ.

The CEO of Binance claimed that the cryptocurrency industry is in fact in a healthy state and urged the public to “get out of the winter,” referring to the so-called crypto winter in the market currently.

But Czechoslovakia is bullish – and more than just a bear market. Regarding regulation, he argued that some regulators, particularly in the United States, have attempted to incorporate crypto into existing financial frameworks such as security or goods binary.

“We have already seen a lot of progress in the positive regulatory direction,” Czechoslovakia said.

“There will be some cryptocurrencies that look like securities, maybe look like commodities and look like currency, but bitcoin does all three,” he said, noting that current regulations may not apply.

In his view, governments should create an entirely new class of blockchain-based assets, which CZ defined as “just a new data transfer technology” and a “new asset class” in its own right.

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