Posted 2 years ago | by Ben Armstrong
Changpeng Zhao: It’s Not Too Late to Enter the Crypto Space!
The CEO of Binance Changpeng Zhou (CZ), believes it is not too late to buy crypto as there is substantial room for price appreciation in the coming years.
The chief executive officer of Binance, one of the world’s largest crypto exchanges, Tweeted:
Everyone I have met that got into #crypto, thinks they got in too late, no exceptions, myself included, until 5 years later.
I expect the same will be true in 2025. We are still early in the game.
Not financial advice. And don't trade if you are not a trader. #hodl.
— CZ Binance ??? (@cz_binance) May 24, 2020
It is pretty easy to be bullish on tokens at this point, given the way central banks are monetizing assets at a rate never before seen in human history, and the economy is falling apart due to political blundering.
If you would like to sign up for an account at Binance, and learn more about cryptos, please click right here. It has loads of tools for retail traders, and also tons of avenues for institutional investors.
People are Holding Cryptos
According to Changpeng Zhou, the number of holders in the digital currency space is more than the number of traders. This is simple to understand, as people around the world are holding and using tokens as money, and not using them to speculate.
In addition, the CEO predicted a period of rising volume, where tokens are both used for speculation, and also as money. The Binance CEO predicted that the crypto space will be evolving for traders over the next five years.
CZ also thanks that he came to crypto, however, he thinks he has recouped his investment, and this situation would happen would be similar for anyone who enters the space now. Clearly, cryptos are a new asset class, but they offer advantages that no other form of money can match.
Try sending money to the middle of Africa...in five minutes. As long as the recipient has a smartphone and a crypto wallet (that is connected to the internet) it is a done deal. SWIFT isn't a dinosaur in this situation, it is already fossils.
Never an Easy Market
In order to answer the question about what fair value of bitcoin could be, the executive said that the fair price of bitcoin for anyone is the highest price in which someone in the world is willing to pay for it, and to have access to that guy.
CZ kept noting that that greed and fear are the biggest emotions in crypto trading. Any market that is over traded will result in losses, as people tend to ride a trading thesis far longer than is sane. Regardless, as money cryptos are absolutely revolutionary.