Binance CEO Changpeng “CZ” Zhao has in five years taken his starting interest in cryptocurrencies and showed his feelings into one of the most successful cryptocurrency exchanges in the world.
The young CEO has even bestowed extra time on the cover of Forbes magazine’s crypto rich list and was attracted attention as being among the wealthiest entrepreneurs operating across the cryptocurrency industry.
In a new interview with CryptoGlobe, CZ shares details on his humble beginnings, and most importantly, sheds some light as to where he sees Binance and the cryptocurrency market as a whole going in the future.
Binance CEO Said: The Business Market Will Return “Any Minute”:
Zhao, who agrees, he can “kind of influence” the price of cryptocurrencies without any worried situation exchange operator, he doesn’t hope any bad,because they are in a bear market at all and calls attention to Bitcoin’s seemingly unbreakable support at $6,000. CZ also points out that Bitcoin only reached $20,000 for a “week or so” and suggests that looking at the “long-term” is the best strategy.
While CZ expressed his views that he doesn’t want to “look carefully markets because anything I tell that I will be found as super business market analytical,” he went on to comment that he thinks “that any minute the bull market will return,” suggesting that October to December are “good months.”
The cryptocurrency market historically has seen increment in cost during Q4 each year. In 2017, Bitcoin prices went parabolic reaching nearly $20,000 before falling to a 2018 low of $5,800.
CZ himself tells he subtracts more reactive approach and “always” buys and holds.
From Unproudly Startings to $1 Billion in Profitable earnings:
Zhao got his start in cryptocurrencies after gaining knowledge about the starting to excist asset class from BTCC co-founder Bobby Lee and Sky9 Capital founder Ron Cao. After reading the Bitcoin whitepaper and attending some crypto conferences, he announced to quit his job and pursue a career in crypto full time.
CZ has made the number one cryptocurrency exchange by “adjusted” trading volume according to data from CoinMarketCap. CZ expects Binance, which has only recently celebrated its one-year anniversary, to generate as much as $1 billion in profits in 2018.
Binance’s Five-Year Plan
Having finished successfully lots of in very little time, CZ is focusing on the future of Binance and the cryptocurrency industry as a whole. More ever to build out a decentralized version of its cryptocurrency exchange, the Binance team believes there is room for growth in the wallet space, which was part of the motivation to partner with Trust Wallet.
CZ believes the industry to be “so much bigger” in five years, and enunciates through his crypto business he needs to “push education and charity,” among other social responsibilities.
CZ was also questioned about his bold prediction of the crypto market cap growing “1,000x” in USD value in the future. The prediction was made via Twitter in disagreement with comments made by Ethereum creator Vitalik Buterin suggesting the market had peaked.
CZ points having his believe that the market could grow “much more” than that in the coming years as crypto reaches mass adoption.
Mark Peter is a full-time member of the reporting team at Bitconews. He is a finance major with one five of writing experience. He has not held any value in Bitcoin or other currencies. He joins Bitconews as a freelance journalist, blogger and forex trader.
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