The crypto long term trends are seen as a major factor in the Bitcoin and coming altcoin news, mostly because they have been dropping in the past couple of months. As you know if you follow the news, Bitcoin has lost around 50% and is tumbling as bulls failed to keep the upward momentum and as regulatory pressure and sell-side pressure coming from miners and the PlusToken scam hit the market.
Despite all of this, one of the most prominent executives in the industry remains the Binance CEO Changpeng “CZ” Zhao. According to his crypto long term outlook, the industry’s long-term momentum remains in the upward direction and is boding well for the future of cryptocurrencies and related technologies.
As the year 2019 comes to a close, crypto and blockchain firms have started posting their year-end reports and are now attempting to figure out the top trends of the year and what is next for the nascent industry.
One of the firms which detailed its crypto long term trends is Asia’s Global Coin Research – by releasing its “Community Predictions for 2020” report in which it cited countless industry executives.
One of them was the head of Binance Changpeng Zhao who is viral in the Bitcoin latest news all the time, said that the long-term trajectory of BTC and the crypto market remains decidedly positive. He noted:
“Bitcoin is still a small market cap instrument so there will be high volatility in the short term. However, if you look at the fundamental technology, the longer-term view, about a 5-year or 10-year horizon, we’re very confident that bitcoin and cryptocurrencies are here to stay.”
After this, CZ went on to say that he thinks blockchain’s impact will do more than the Internet. His crypto long term trends are set in order for this industry to grow too, meaning that the prices underlying the cryptocurrency assets will also see growth.
Even though CZ did not give any solid cryptocurrency price predictions, a colleague of his did.
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We are talking about Gin Chao, the Chief Strategy Officer at Binance, who told the trade news outlet BlockTV that historical trend simply that Bitcoin could find itself in the $50,000 to $100,000 range which is seven to fifteen times higher than the current price of $7,200.
#WEEKINREVIEW: "If you look at historical patterns you are probably looking at new highs at least for bitcoin in the $50,000-100,000 range." – Gin Chao, @Binance Strategy Officer. Check out the full interview at: https://t.co/9EOuzS6ktu pic.twitter.com/lvnU0GntaE
— BLOCKTV (@BLOCKTVnews) June 30, 2019
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