Binance CEO: Crypto market is positive in long-term

While the first half of 2019 ended up being a pretty successful time for the crypto market, the same cannot be said for the second half of the year. Bitcoin reached its peak in 2019 by almost reaching $14,000 in mid-June, but after that, it lost around half of its value over the course of the following six months.

There are numerous reasons why the largest
coin performed in this way, from regulatory pressure to oversell, scams, whale
interventions, and more.

However, not everyone appears to be
disappointed with Bitcoin’s performance in 2019, and many have an optimistic
view of Bitcoin’s future, and the future of the crypto market, in general.

Binance’s own CEO, Changpeng Zhao, still remains sure that the crypto industry’s momentum in the long-term remains a positive one, which will ultimately bring great benefit to the crypto industry and those involved with it.

CZ commented on Bitcoin, stating that it is
still a very small market cap instrument. According to Zhao, this means that
there will be a lot of volatility in the short term, but he also left a lot of
space for Bitcoin to grow. He added that the fundamental technology of
cryptocurrency ensures their survival, especially when it comes to Bitcoin over
the next 5-10 years.

Zhao also has a positive stance towards
blockchain, claiming that its impact will have a greater effect on the world
than the internet itself. To him, it is all connected — the use cases of
blockchain will impact the world, which will lead to the growth of the
industry, which will, in turn, lead to a rise in prices of cryptocurrencies
will increase.

Bitcoin to hit $50,000-$100,000 in 2020s

CZ refrained from giving any specific price predictions, although Binance’s Chief Strategy Officer, Gin Chao, speculated on what might happen in the future. Earlier this year, he stated that the history of crypto implies that the market has a lot of potentials to move up in the future. He expects BTC to surge and reach the value between $50,000 and $100,000 over the next decade. His reasoning is pretty much the same as that of CZ, stating that the adoption of digital assets is on its way and that a turning point will come in the 2020s. Investors are getting better at deciding which assets are good, and which are not, with Bitcoin clearly being among the good ones.