2018 will be most likely known as the ‘bear year’, due to the fact that, other than a number of minor surges, the markets have seen major dips through the majority of 2018. Despite all this, the CEO of Binance, Changpeng Zhao still remains optimistic regarding the future of the market and believes that we can expect a bull run ‘sooner or later’.
Zhao is usually known by his initials, CZ and he mentioned that Binance has a ‘stellar’ year despite the plunge in the market. He also reveals that active traders on the platform have increased every month. Moreover, deposits of Bitcoin Ether and other altcoins have slowly grown too.
As reported by CryptoSlate, speaking on the crypto-based talk show CNBC Crypto Trader, CZ stated his thoughts saying that the broader crypto market and his crypto exchange still remain in a good position. Binance registered revenues of over $3 billion in the first half of this year whereas the crypto market saw its value go down from $800 billion in January to sub-$200 billion.
CZ was asked about why he thinks a bull run is coming and he said, “even if I don’t know what will catalyze a bitcoin bull run, I am certain it will happen. Sooner or later, something will trigger it.”
He added that the market has been massively affected in comparison to January but if you look at what it was like two years ago, cryptocurrencies are still trading in massive numbers and remain profitable for early traders.
Even though CZ isn’t 100 percent sure what will trigger the next Bitcoin bull run, the CEO of ShapShift, Erik Voorhees thinks that the rising US debt will be the catalyst for the next surge in the markets. The CEO noted that the world’s $20 trillion debt loans over all significant governments and banks.
When the next global financial crisis occurs, and the world realizes organizations with $20 trillion in debt can't possibly ever pay it back, and thus must print it instead, and thus fiat is doomed... watch what happens to crypto.— Erik Voorhees (@ErikVoorhees) November 8, 2018
What are your thoughts? What could cause the next bull run? Let us know what you think down below in the comments!