Crypto

Founder of Binance: Bitcoin in a good position

Changpeng Zhao (CZ), founder and CEO of Binance, one of the world's largest crypto money exchanges, is still in a positive position, considering Bitcoin's strong rally in 2017, which has dropped by 70 percent since early 2018

From January to December 2017, the price of Bitcoin increased by more than 2150 percent from $ 890 to $ 20 thousand

Compared with the middle of 2017, Bitcoin's volume increased fivefold,

In an interview with crypto money researcher Bianca Chen, CZ said that the cryptographic currency sector was in a better position in terms of infrastructure, price, volume and interest than it was a year ago: "

" I checked , The price of BTC was 2500 dollars a year ago, today is 6800 dollars. Trade volume was 780 million a year ago, 3.4 billion today. "

By mid-2017, the cryptographic sector had no infrastructure suitable for both retail and institutional investors.

Large banks and financial institutions (such as JPMorgan, Goldman Sachs, and Morgan Stanley) will be forced to withdraw from the regulatory uncertainty of the cryptographic money market by US financial authorities,

Recently, Goldman Sachs CEO Lloyd Blankfein said that consensus currencies could emerge as the dominant means of exchange if the state-run benchmark currencies could dominate the financial system. Furthermore, Blankfein has emphasized that it is arrogant to think that crypto-currencies can not work because they are based solely on new bases, principles and philosophies.

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