Binance CEO: Bearish Cycles Are Beneficial for Crypto Market
Binance CEO Changpeng Zhao has said that in the long term, bearish sentiment is more beneficial for the cryptocurrency market than a seemingly endless uptrend.
According to him, investors should not consider token quotes as indicators of market conditions.
Instead, the head of the platform has suggested looking at the number of users buying and using digital currencies, as well as the number of different blockchains and Web3 projects.
According to him, the industry is in its early stages and the market is “not yet saturated.”
Zhao has noted significant progress in the development of the regulatory framework. In particular, he has mentioned attempts by the US authorities to include cryptocurrencies in existing financial structures.