Binance CEO CZ says data shows more holders outperform traders, reveals Bitcoin’s fair price ⋆ ZyCrypto
Changpeng Zhao, the Chinese-Canadian founder and CEO of the world’s largest crypto exchange, Binance recently shared a thought on what the future holds for the cryptocurrency space.
Everyone I have met that got into #crypto, thinks they got in too late, no exceptions, myself included, until 5 years later.I expect the same will be true in 2025. We are still early in the game.Not financial advice. And don’t trade if you are not a trader. #hodl.— CZ Binance 🔶🔶🔶 (@cz_binance) May 24, 2020
He asserts there are more holders in the digital currency space than traders based on prevailing data analysis. However, trading “makes you feel like you are in control”.
CZ expects that those who venture into crypto now will have better reports in the future, with the projection of the expected period of possible viable outcome in 5 years.
According to CZ, the game will be evolving for new traders by 2025, because he thinks this is the period it will take for such progress to be solidified. Relating to his own experience, he stated that he thought the time he got into crypto was late just like everyone else does, but was able to break even after 5 years.
The CEO opined that no time is too late for anyone to catch the crypto bug and set forth into the crypto industry. But a lot of investors do not have the patience and determination to carry through this period, they rather quit.
When asked by a crypto adherent on what Bitcoin’s fair value could be, CZ opined that “The fair price of #bitcoin for you (assuming you are selling) is the highest price someone in the world is willing to pay for it AND you have access to that guy.”
He pointed out greed and fear as the biggest emotions in crypto trading. Avid investors may not take the necessary precautions in trading, which may result in losses eventually. This includes not following market trends and ignoring red flags.
On the other hand, fear can deter investors from staking high even when there are clear positive signals, which may also still result in low gains as the market is highly unpredictable.
However, this may be a lot of new traders, but years of learning the curves will enable them to gain ground.
CZ believes the world will be so different in 2025 and possibly be onboard with QR code payments.
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DISCLAIMER Read MoreThe views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.