According to the CEO of the world’s largest cryptocurrency exchange, Changpeng Zhao, the bull market is about to return “any minute.”
“Any Minute the Bull Market Will Return”
Changpeng Zhao, CEO at Binance, expressed his rather positive sentiment on the current market setup during an interview with CryptoGlobe at Consensus: Singapore 2018 conference.
Being fairly cautious with his words, CZ outlined that 2018 has seen very strong support at $6,000, comparing it to 2015 when the support level was $200. He also said that he’s looking the price movement on a yearly basis and, hence, he doesn’t believe the market has been bearish at all.
However, he also said that “if you look at a weekly or monthly basis, yes we had a bear market a little bit, but it was only $20K for a week or so… I always look at the long term.” With this said, he thinks that the bull market will return sooner rather than later:
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.
Nevertheless, the CEO also admitted that he’s not a trader but rather a ‘hodler’:
I never trade myself. I always buy and hold.
Firm on His Feet
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.
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
He now seems even more optimistic, outlining that not only will he keep his tweet up, but he’ll also retweet it when the time comes, reaffirming his positivity on the growth of the cryptocurrency market:
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.
What do you think of Changpeng Zhao’s opinion on the cryptocurrency market? Don’t hesitate to let us know in the comments below!
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