Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
For the CEO of Binance, las condiciones macroeconómicas harán que más personas se acerquen a Bitcoin. También calificó el momento como positivo, ya que las regulaciones buscan posturas más conciliatorias sobre las monedas digitales, en lugar de solo prohibirlas.
- According to Zhao, despite the market downturn, more and more people will come to Bitcoin.
- He cited macroeconomic conditions and people’s fears as the main reason.
- “Despite the drop, Bitcoin has remained around USD $20,000.”
- Now there is more interest in regulating and not banning Bitcoin.
The CEO of Binance, Changpeng Zhao (CZ), reiterated that people will be more attracted to Bitcoin and major cryptocurrencies as fears about inflation a general increase in prices and fall in the purchasing value of money. and a possible recession in the U.S. gain ground.
Las declaraciones de Zhao vinieron a lugar en una entrevista realizada para el programa Squawk on the Streetbroadcast on the news network a network refers to all nodes in the operation of a blockchain at any given moment in time. CNBC, where the main executive of Binance shared some insights on the current market an area or arena, online or offline, in which commercial dealings are conducted. situation, considering the historical evolution of the price of the main digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency.
Una mayor adopción para Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions.
On the evolution in the price of Bitcoin, Zhao started from the idea of the most notable peaks in the price of cryptocurrency, referring also to the existing resistance a certain price limit that the crypto in question will rarely, if ever, exceed. around USD $20,000 per unit. Here he indicated that there is a kind of psychological barrier, which prevents its price from going lower despite the current crypto winter.
Regarding the fall in Bitcoin prices, the CEO of Binance defended that BTC has remained around the aforementioned mark despite such catastrophic events as the fall of the Terra ecosystem and Tesla’s hefty sell-off in recent months. But just as it has fallen, it has also shown remarkable moments, such as the surge seen these days following announcements related to the U.S. economy.
While many analysts seek to establish relationships between Bitcoin and other indicators in the stock markets, Zhao noted that cryptocurrencies are more about mass psychology, so they are cycles that will react to traders’ behavior:
“Last week, indicators rose as the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. price rallied. However, when the bull a person that is optimistic and confident that market prices will increase, this person is also known to be "bullish" about the market or price. run ended and the coins fell again, so did the sentiment the sentiment is the overall mood and attitude of traders and investors in regard to a particular asset or the whole market. among investors.”
Understanding that this is a very emotional market, Zhao was asked about what would be the next trigger event for a bull run for Bitcoin and the major cryptocurrencies. Given this, he indicated that it was difficult to predict this kind of thing, but he is inclined to give more weight to the macroeconomic situation being experienced in the U.S. and many other countries.
In this regard he mentioned:
“The macroeconomic situation, there’s going to be high inflation, there’s talk of recession and so on. All of these things are driving the adoption of Bitcoin… and other cryptocurrencies.”
On the other hand, Zhao also noted that the crypto industry is now much larger, so there are many new applications and use cases in development. He cited that at the time sectors such as NFTs, DeFi, and even ICOs set the tone, but that until six months before their boom it was difficult to hypothesize that such ecosystems would manage to generate the boom they generated.
Finally, the director of Binance He noted that in the face of market growth, regulations are also moving in a positive direction, taking a more conciliatory approach rather than banning Bitcoin or the major cryptocurrencies. Thus, it’s hard for Zaho not to be optimistic at a time and environment like this, even though the price of digital currencies is not yet showing clear signs of the end of the crypto winter.
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Version by Angel Di Matteo / DiarioBitcoin
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