Binance CEO explains why cryptocurrencies are the future

The CEO of the largest cryptocurrency exchange Binance has announced that the recession in developed countries and rising inflation may push people and companies to use digital assets more often.

Zhao noted that the bulls managed to defend an important level of the bitcoin price of $ 20,000. This is the «peak» of the last bull cycle, and bitcoin has never fallen below its previous records. The fact that traders managed to hold this level is a positive signal. As for the future, according to Binance CEO, it will be quite difficult to predict a new round of growth.

«No one predicted the boom in NFTs, decentralized finance, etc. These are the things that catalyzed the last bull cycle. And in 2017, ICOs were such a catalyst. But no one could have predicted it six months earlier. In fact, the main thing is to follow a risk management strategy. Think about what will happen if everything goes to zero. If you start having problems in life, you have invested too much. You need to reduce your investments and reassess the situation. Don’t overinvest,» Zhao advised.

The businessman noted that the cryptocurrency market has grown significantly, and many new applications for digital assets have emerged. And the entire industry is moving in a positive direction, with many countries developing regulation of the sector instead of simply banning cryptocurrencies.