Changpeng Zhao says the current market price is normal

Bitcoin, Ethereum, Cardano or Dogecoin, cryptocurrencies are facing a historical crisis. The financial markets are upset and investors are not reassured. But in a group there are always optimists. Changpeng Zhao falls into this category and holds faith in cryptocurrencies. For him, there is no doubt that the current market correction is normal.

Changpeng Zhao and cryptocurrencies

Cryptocurrencies are complex and difficult to understand. While promising, they are both a source of gains and losses. Indeed, a cryptocurrency investment requires prior knowledge of the industry. Unfortunately, some see only the bright side and panic as soon as the trend changes. Many people are wary of cryptocurrencies, even worse since markets collapsed.

However, even before the cryptocurrency crisis, some financial institutions already feared the effect of cryptocurrencies. Indeed, the latter see the potential of these assets and prefer to stop their momentum before it is too late. However, bad opinions don’t discourage everyone. Among the staunch supporters of cryptocurrencies, some remain loyal and say the market recovery will happen.

Changpeng Zhao is one of those people who remains optimistic regardless of market trends. In an interview dated June 16 on Bloomberg, Binance CEO says he is in no way worried. For him, the current market correction is normal. So he doesn’t see why he should care. Cryptocurrencies are a volatile industry that is always on the move. He even thinks that the markets will continue to go down and, despite this, he remains firm in his determination of him.

Ever since he bought his first bitcoins in 2014, Changpeng Zhao has firmly believed in the potential of cryptocurrencies. This is one of the reasons that push him to create his own cryptocurrency exchange platform. The collapse of cryptocurrencies is a major blow to cryptocurrency-related businesses. To compensate for the losses, some of them were forced to readjust their operations. The crypto billionaire says his company is prepared for the situation and has allocated funds.

Increased requests despite transactions in red

Cryptocurrencies fall but users continue their operations. According to reports from the executive, requests continue to grow despite a continuing downward trend. Cryptography is an area with great potential. It is easy to understand that investors are continuing their operations. Also according to him, we must prepare for what will follow because the trend does not seem to decrease.

Since the start of the year, the cryptocurrency’s lights have been red. Despite small recoveries from time to time, cryptocurrencies have not yet found the catalyst that will allow them to get out of this situation. The cryptocurrency market has lost more than 55% of its market capitalization and inflation has raged since the collapse of the LUNA ecosystem. For Changpeng Zhao, this incident is the basis for the destruction of cryptocurrencies that accompanies bear markets.

Binance CEO thinks the situation will be critical for a large number of people. How come ? Because a lot of people got into the cryptocurrency industry when the markets were positive. Many of them did not foresee the turnaround. As a result, many investors don’t know how to react to the current correction and the next bearish cycle.

The Terra accident resulted in many casualties. For experienced investors like Changpeng Zhao, the current market correction is normal and nothing to worry about. An investment isn’t just made during the glory days. Consequently, it has provided alternatives in case this situation arises. He also stated that bitcoin withdrawals are temporarily suspended. However, the platform will continue to work. The hardest hit will undoubtedly be Sunday investors. This will be the consequence of the lack of preparation and knowledge of the sector.

Source: Finbold

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Eddy Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than to write informative articles and relax at the same time.

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