The chief executive officer of the Binance exchange shared his opinion on the current situation and explained why it will push Bitcoin adoption.
Changpeng Zhao is the founder and chief executive officer of Binance exchange. Binance is a top first ranked crypto exchange, thanks to its high quality & secured services. The exchange has its ecosystem, where it operates its crypto project with Binance coin. The exchange always works to push the adoption of crypto & blockchain via educational awareness programs.
Recently Changpeng Zhao appeared in an interview with CNBC’s Squawk. Through the interview, Zhao flipped the bearish sentiment of the crypto market into a bullish one.
Zhao used the basic ideas to figure out the current macroeconomic situation. He said that the current macroeconomic situation is in favor of the crypto industry and it will push the adoption of Bitcoin.
Bitcoin price action
At present, the price of Bitcoin is $24,558 and this price is 3% high over the last 24 hours trade price, while 10% high over the last 7 days price.
In the last week, many crypto experts claimed that the price of Bitcoin & other leading crypto assets will face a huge downfall but happened differently, and here we should appreciate the role of high inflation-based speculations, which resulted in positive outcomes for the crypto market.
On 29 July, Binance’s CEO also suggested people be wise in this situation instead of becoming bullish blindly. He suggested people invest that amount of money, which remains less effective for life.