News Binance CEO Is Not Concerned With The Undervalued Crypto...

Binance CEO Is Not Concerned With The Undervalued Crypto Market; Says We Have To Prepare For A Crypto Boom

-

- Advertisment -

Binance CEO Changpeng Zhao (CZ) has recently spoken at the Binance Blockchain Week in Singapore.

There, he addressed the successful 2017 and the tragic 2018 for the crypto space.

He also made sure to proclaim that the crypto market is extremely undervalued at the moment and many cryptos are oversold.

He highlighted that back in 2017, crypto prices went straight to the moon which led to the overbought conditions back then.

CZ explained that the high rise in price triggered new people and projects to appear and after everyone has gotten into this, the prices started declining.

“I believe… at the end of 2017, there was definitely an overshoot on the price side… There was a lot of guys rushing in, very simple projects with very simple whitepapers. […] Then of course as everybody rushed in…once that massive rush-in finishes the price declines,” he said.

2018, the year of unprecedented bearish trend

While 2017 was the year of the massive crypto rise, 2018 was the most brutal year that cryptos have experienced. The bears still haven’t left the building at the beginning of 2019 either.

“We’ve been in a bear market for a very long stretch, probably the longest in history for Bitcoin right now […] I think right now my personal view is that we are actually overshooting on the lower side now, Binance CEO said, as reported via Investinblockchain.

Binance CEO Is Not Concerned With The Undervalued Crypto Market; Says We Have To Prepare For A Crypto Boom

Currently, there are more people involved in the industry, but also much more developments as well.

CZ made sure to highlight again the fact that he’s not usually looking at the prices in the market.

Binance, for instance, is focused on building rather than checking prices so that they become prepared for the next massive wave that’s definitely on its way.

“I’m very, very confident that this space will get so much bigger, we just got to be prepared for when that happens.”

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next 5 years, many of the major supermarkets are expected to...

Different Facets of Biometric Authentication and How They Are Making A Difference in The Financial Sector

When we think of authentication in the true sense, then we find ourselves amid the different proven...

UNICEF’s 125 ETH Investment Took Less Than 20 Minutes and Cost Less Than $20

"The digital world is coming to us faster than we could have imagined," said UNICEF chief Chris...

Analysis: Is Bitcoin (BTC) Still Viewed As A Dark Web Currency?

There is a long past of Bitcoin (BTC) – due to its anonymity – being used in...
- Advertisement -Binance CEO Is Not Concerned With The Undervalued Crypto Market; Says We Have To Prepare For A Crypto Boom

A Beginner’s Guide to Day Trading Crypto

Much of the activity that comes from the crypto-space originates from the crypto-trading community. Buying and selling...

1/3 of Institutional Investors Have Cryptocurrency Placements

What the research by Fidelity Investments shows. In the US and Europe, 36% of...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you