Binance CEO: “Sooner or later something will trigger a bull run”
Changpeng Zhao, CEO of Binance believes that “sooner or later there will be a next Bull Run”. CZ explained this in an interview with Ran Neuner.
In the last episode of Crypto Trader, Ran Neuner met with a number of prominent industry leaders including Roger Ver, VanEcks Gabor Gubacs and Binance CEO Changpeng Zhao.
Zhao expressed a very positive mood about the current market situation when Neuner CZ asked which catalysts could be a forerunner for the next Bull Run. At the same time, he explained that it is difficult to make predictions, even if they are only based on catalysts, for the market:
It’s a difficult question, I don’t really know how to predict which catalyst will be the trigger. […] Sooner or later something will trigger a Bull Run.
However, according to CZ, the cooling of the ICO market can be seen as a sign of a maturing market. Projects are now focused on delivering concrete products, services and tokens to attract investors. In addition, he explained that the crypto market and Binance are still in a good position even after almost a year of declining prices. CZ said:
In comparison to January [2018] we have probably decreased by 90 percent. This is only one tenth of the volume traded in January. But compared to about a year or two ago, we are still trading in huge volumes. The business is still okay, we are still profitable and we are still a very healthy business.
Binance itself shows steady growth despite the market situation:
At the moment we are still registering a steady number of new users every day, so what we see is actually very healthy. The number of new users and the amount of crypto we have is increasing very steadily. So when you look at our cold wallets, the amount of BTC we hold, we’ve just seen a rise in people paying Bitcoin into our stock market.
In addition, CZ noted that the arrival of institutional investors “can be a really strong trigger” and drew attention to the introduction of institutional products like Fidelity Digital Asset Services or Bakkt.
Zhao’s optimism is not new. Already in September, Zhao shared his optimistic assessment of the crypto market and stated that the crypto market will grow 1,000-fold.
I still disagree with this. I will say “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. https://t.co/bvSttEeCmc
– CZ Binance (@cz_binance) September 12, 2018
You can watch the whole interview from the show here:
