Changpeng Zhao (CZ), founder and CEO of Binocence, the world's largest crypto stock exchange, said it has been in a positive position since the beginning of 2018, especially after a 70 per cent drop in Bitcoin,
According to Binance CEO CZ, the crypto market gives a better picture at every stage
From January to December 2017, the price of Bitcoin has increased from 890 to almost 20,000 by more than 2150%. Compared to mid-2017, Bitcoin volume increased five-fold.
In an interview with Bianca Chen, a crypto-money researcher and reporter in Switzerland's Zug city, CZ said that the crypto money
CZ also said:
If you look at it in its simplest form, the price of BTC was 2,500 these years last year. It's $ 6800 today. The BTC transaction volume was also 780 million last year but 3.4 billion today.
In the middle of 2017, the crypto money sector did not have the appropriate infrastructure for both retail and institutional investors.
Small investor withdraws from the market and enters the institutional investor market. As of July, there is an enterprise platform called Coinbase Custody, which can buy millions of dollars worth of digital assets such as Bitcoin and Ether, which are the local crypto money of the Ethereum Blockchain protocol of hedge funds, academic institutions and pensions in the crypto market.
JPMorgan, Goldman Sachs and Morgan Stanley large banks and financial institutions have publicly announced their intention to move cryptographic paral- lel to the increasing demands of customers in the traditional financial sector by operating digital asset buying and selling stocks in the future, despite regulatory uncertainty.
Where is Bitcoin's next target?
Finally, at the New York Conference's Economy Club meeting, Goldman Sachs CEO Lloyd Blankfein said that if the uncertainties in the crypto foreign exchange market are to be offset by the US financial authorities
Furthermore, Blankfein stressed that it would be arrogant to think that crypto money would not work because it was based solely on new bases, principles and philosophies.
] Similar to the correction made in 2014, the decline in Bitcoin price in 2018 was caused by the bubble of retail investors. Recognition of crypto money as a class of assets emerging by banks, leading economies and governments such as the US, Japan and South Korea will cause the next FOMO (fear of kidnapping) among large-scale investors and institutions.
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