Exchange CEO Binance Chanpen Zhao (Changpeng Zhao) reminded users that the leading cryptocurrency has experienced many UPS and downs in its history, stressing that what we are seeing now is nothing more than a correction that happens every year.
“Many people think that the price of BTC has been flat until this year, as it seems looking at the graph. For “old-timers” this is one and the same pattern every year. Only changed the units on the left,” wrote Twitter CEO exchange.
So, from the point of view of Zhao no flat to speak of: it’s only natural that all financial markets are subject to volatility in their own way. Bitcoin is no exception, despite the fact that up to may 2011 remained the status quo. Since then the digital currency has been characterized by large jumps of the course almost weekly, to a certain extent and makes the market so attractive.
Arguments Canina Zhao’s hard to disagree — the market of bitcoin is inherent in the patterns that occur from year to year. They are especially relevant when the increasing pressure of “bears”. In this sense, the 2017 does not differ from other periods. Even though the fluctuations have come up with a historical maximum of $20 000. And, it is worth noting, in kryptomere history repeats itself fairly regularly.
Is it possible to predict the dynamics of the cryptocurrency rate No. 1? Some experts are predicting an increase to $15,000 by year-end. Famous analysts of Fundstrat not give up their positions, anticipating an even more significant leap to $25 000. Well, given that the rising cost of bitcoin has continued for 9 years, hardly the situation will change overnight.
Judging by historical experience, in the long run forecasts of the exchange rate for bitcoin is positive. A bear market is not new, besides, there are many arguments in favor of the fact that the leading cryptocurrency is only the beginning. Despite the relative calm at present, the inflow of “institutional money” is only a matter of time. In addition, on the horizon, significant progress in solving the problem of low network bandwidth bitcoin.
For those seeking short-term profits, the situation is different. But not catastrophic — bitcoin has always been more of a long-term investment. Industry veterans, familiar to natural fluctuations, not afraid of a temporary setback rather new to the market will also come to this one way or another.
Recall Binance actively invests in the development of the ecosystem in the broad sense. So, in the beginning of the month it became known that the exchange will open $1-billion Fund for CryptoStream, thereby, participating in the writing of history, which, as we know, repeats.
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