The Binance team seems has never been worried by crypto sell-offs, otherwise known as the developers and associates behind the largest cryptocurrency exchange in the world. Binance CEO Changpeng Zhao, also known as “CZ,” has supported Binance’s belief in the overall markets and believes that this market decrease is just a phase that will overcome. On June 9, 2018 Zhao tweeted that the most recent price decline was simply a repetitive fact that the whole market seems to go through every year. The recent fall in the crypto market seems to be one of the worst in years, worrying many traders and long-term investors. Although a long-range lens, Zhao is seemingly apathetic of the significant capitalization drop.
To the old timers, it’s the same pattern every year. People seem to think BTC price was flat before this year,” the crypto billionaire stated. Just the units on the left [are] different.
CEO, Binance, on Twitter
It`s an interesting fact, that CZ’s claims are actually correct. In 2012 Bitcoin’s price reached at $35 before crashing down to the lower $4 amounts. It would take about 18 months before bitcoin would see $35 again, but once it did, its price lifted once. Consequently, we saw similar patterns of meteoric rise and shockingly devastating slides in almost every case.
Bitcoin’s price of 2012 grew to $35 before crashing back down to the lower $4
Essentially, as price makes outstanding gains, the previous volatility can be easily ignored since the lifts and drops become smaller when looking at a graph. When the graph is analyzed microscopically, nevertheless, it is in fact nowhere near a “steady” upstream trend.
It was previously declared by Changpeng Zhao about his hopeful future of the digital asset atmosphere and excitement especially for the ICO space. Binance and its team members are not becoming victim to the skeptics and incertitude towards the prices in the market, and are really doubling down on their beliefs in the overall market through courageous investments.