In the long term, bearish sentiment is more beneficial for the cryptocurrency market than a seemingly endless uptrend. This was stated by Binance CEO Changpeng Zhao. Decrypt.
According to him, investors should not consider token quotes as indicators of market conditions.
Instead, Zhao suggested looking at the number of users buying and using digital currencies, as well as the number of different blockchains and Web3 projects.
He added that the industry is in its early stages and the market is “not yet saturated”.
Zhao noted significant progress in the development of the regulatory framework. In particular, he mentioned attempts by the US authorities to include cryptocurrencies in existing financial structures – the “securities or goods” system.
“There will be some cryptocurrencies that look like securities and maybe look like commodities or currencies, but bitcoin does all three,” he said.
According to the CEO of Binance, governments should create a separate category for blockchain-based assets, defining them as “new data transfer technology.”
Earlier, Changpeng Zhao appreciated the draft law on the regulation of cryptocurrencies agreed by the EU authorities. MiCA as “fantastic” but “a bit strict” about stablecoins.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
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In the long term, bearish sentiment is more beneficial for the cryptocurrency market than a seemingly endless uptrend. This was stated by Binance CEO Changpeng Zhao. Decrypt.
According to him, investors should not consider token quotes as indicators of market conditions.
Instead, Zhao suggested looking at the number of users buying and using digital currencies, as well as the number of different blockchains and Web3 projects.
He added that the industry is in its early stages and the market is “not yet saturated”.
Zhao noted significant progress in the development of the regulatory framework. In particular, he mentioned attempts by the US authorities to include cryptocurrencies in existing financial structures – the “securities or goods” system.
“There will be some cryptocurrencies that look like securities and maybe look like commodities or currencies, but bitcoin does all three,” he said.
According to the CEO of Binance, governments should create a separate category for blockchain-based assets, defining them as “new data transfer technology.”
Earlier, Changpeng Zhao appreciated the draft law on the regulation of cryptocurrencies agreed by the EU authorities. MiCA as “fantastic” but “a bit strict” about stablecoins.
Read Cryplogger bitcoin news in our Telegram – Cryptocurrency news, courses and analytics.
Found a mistake in the text? Select it and press CTRL+ENTER
