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Binance’s CEO, Changpeng Zhao (CZ), has responded to the recent brutal Bitcoin crash, which saw the cryptocurrency’s price plummet to its lowest level since early November.
In a recent statement, CZ emphasized that long-term trends in the market are much more predictable than short-term fluctuations. He believes that economic indicators have a significant impact on the cryptocurrency’s price performance only in the short term.
As per data from earlier today, Bitcoin has dropped to $77,527, mirroring the decline of the US stock market. The Nasdaq index is currently experiencing its worst drop since 2022, with a slump of over 4%.
CZ’s statement suggests that his focus lies on long-term trends rather than short-term market fluctuations. He believes that the crypto market will continue to experience growth due to technological advancements and innovation.
The CEO also expressed skepticism about linking Bitcoin’s performance solely to economic indicators, stating that this connection only holds true in the short term.
Source: https://u.today/binances-cz-reacts-to-brutal-bitcoin-crash
