Bitcoin in Good Fit – Says Binance CEO
Binance CEO and founder Changpeng Zhao considers that Bitcoin still holds good positions despite 70% correction in the beginning of 2018.
In January – December of 2017 Bitcoin gained more than 2000%. In comparison with the mid 2017, trade volume increased fivefold indicating significant demand and interest in cryptocurrencies as emerging assets. In one of the latest interviews Changpeng Zhao told that the cryptocurrency economy is in better position than a year before in terms of infrastructure, price, trade volume and general growing interest.
In the mid 2017 the cryptocurrency sector had no proper infrastructure both for retail and institutional investors. As of July 2018, there is Coinbase, which lets hedge funds, traditional organizations and pension funds acquire digital assets for millions of dollars. Large banks and financial organizations such as JPMorgan and Goldman Sachs publicly announce about their intention to assist the growing demand for crypto assets in the traditional financial sector. Binance itself expects up to $1 billion revenue.