In order to combat high inflation, central banks around the world are blowing up interest rate hikes, and funds have withdrawn from risky assets. Bitcoin has plunged more than 58% this year. Although it is difficult for investors, the cryptocurrency exchange Binance (Binance) CEO Changpeng Zhao (CZ) believes that the bear market is not a bad thing, and the correction of the pullback is actually helpful to the cryptocurrency market.
In a conversation with Messari CEO Ryan Selkis on Wednesday, Changpeng Zhao said that the cryptocurrency market “cycles every four years” is normal, and in the long run, compared to the “everyday Chinese New Year” and “always rising” markets , the bear market is the performance of the market health.
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In addition, Changpeng Zhao is optimistic about the current regulatory environment for cryptocurrencies. He believes that regulators in some countries, especially the U.S. authorities, have tried to incorporate crypto into existing financial frameworks. “We’re actually seeing a lot of progress in the positive direction of the regulatory framework,” he said.
This article A bear market is a sign of market health! Binance CEO Changpeng Zhao: “Currency price correction” is a good thing that first appeared in the blocker.