Binance CEO Isn’t Worried For Cryptocurrencies, Bullishly Asserting That 2018 Was Just a Correction
2018 hasn’t been a pleasant year for cryptocurrencies in regards to their price points, however, cryptocurrency bulls have been urging the market and the onlookers to not to worry, predicting a better scenario for 2019. On a similar line, Changpeng Zhao (CZ), the CEO of Binance regards the bear of 2018 as a mere correction after the excessive growth that occurred during 2017 and expects some great highs from the market in 2019.
CZ recognized that 2018 has been difficult for both the investors and cryptocurrency enthusiasts, in a live interview for Bloomberg. He stresses that “there are no worries” in terms of performance of cryptocurrency in the future as he still maintains a lot of confidence in these technologies:
2018 has been a tough year in terms of pricing for cryptocurrency, and I think a lot of projects are not making out of this year, so it’s a correction year … I think people in the industry are still very confident of the future, so there are no worries about that.
Have a live interview on Bloomberg in 15 minutes (12:30 HKT). Will last 6 minutes or so, should be interesting.
— CZ Binance (@cz_binance) December 19, 2018
The CEO also took this opportunity to elaborate on his companies strategy and business philosophy during the current market conditions. He noted that they haven’t really changed in fact, they are more aggressively working towards their expansion plans in order to service a larger and more heterogeneous public:
Our strategy has not changed at all. We have launched one fiat exchange so far, and we are about to launch two or three in the next month or so. Next year, we still want to build ten more fiat exchange and we’re also launching our decentralized exchange which is a very important core blockchain technology-based exchange. None of our plans change, and we’re pushing very aggressively.
Before CZ ended his short interview, he noted an important element of the ecosystem. He stated that the future of cryptocurrency keenly depends upon the development of its technology and the confidence users have in its potential. In order to ensure this, the CEO suggests that instead of Hodling, the concentration should be upon Building, a term used by Binance team to explain the confidence in the development of applications and scenarios of real use that allow giving a value to the currency and its blockchain beyond speculation:
“I think price is a very strong traction for a lot of speculators. But the industry are going to grow by builders, those that build applications and the actual adoption of cryptocurrency in the long-term.”
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