The CEO of Binance predicts a Bitcoin and Crypto & # 39; Bull Run & # 39;

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The owners of Bitcoin and cryptocurrency have waited the next race for the whole year, hoping that the price of the bitcoin would return (and even exceed) to almost $ 20,000 per chip reached at the end of last year.

However, the bitcoin price has been stuck in a downward trend for the whole year.dragging with it the wider cryptocurrency market. The price of bitcoin is down about 70% compared to the peak, while the caliber of other large waves of cryptocurrencies (XRP) and ethereum is down by around 80%.

Now, the respected CEO of Bitcoin Exchange Binance, & nbsp; Changpeng Zhao, said he expects another bitcoin "running" to happen "sooner or later", telling CNBC Crypto Trader Program: "Even if I do not know what will catalyze a race to the bull bitcoin, I'm sure it will happen … Sooner or later something will trigger it."

Changpeng Zhao, often known by his initials CZ, said that while bitcoin and cryptocurrency trading on Binance, the largest exchange in the world by volume, has fallen by almost 90% since January, still believes that the company and the broader market is healthy.

"Compared to January [of 2018], we're probably 90 percent down. So we have only one tenth of the volume of trade compared to what we had in January. But, compared to how a year or two ago, we are still trading in huge volumes. The business is still going well, we are still profitable and we are still a very healthy company, "CZ said.

CZ also said that Binance has seen a steady increase in the number of active users and bitcoin deposits over the course of the year.

Binance has also revealed that it is opening its doors to institutional investors, laying the foundation for capital that many in the cryptocurrency sector hope will soon arrive from institutional investors and individuals with a high net.

In an average positiont, Binance outlined his plans for institutional investors, writing that he expects "a greater number of institutional investors to increase their allocation in this [cryptocurrency] asset class. "

In the meantime, the managing director of exchange bitcoin and cryptocurrency & nbsp; ShapeShift, Erik Voorhees, said that US debt will be the trigger for the next bitcoin price increase.

"When the next global financial crisis occurs and the world realizes organizations with 20 trillion dollars of debt, it can never repay it and therefore must print it, and then the fiat is condemned." See what happens to the crypt, "& Nbsp;Voorhees tweeted last week. & Nbsp;

Elsewhere, Bloomberg data last week suggested that technical indicators show that bitcoins may be about to go higher.

The Bitcoin & # 39; s Directional Movement Index (DMI) seems to have entered a new bullish phase, according to the Bloomberg analysis, while the price trend has fallen from the upper limit of the VERA band, which is "widely regarded as an encouraging sign."

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The owners of Bitcoin and cryptocurrency have waited the next race for the whole year, hoping that the price of the bitcoin would return (and even exceed) to almost $ 20,000 per chip reached at the end of last year.

However, the price of bitcoin has stalled in a downward trend throughout the year, dragging the broader cryptocurrency market with it. The price of bitcoin is down about 70% compared to the peak, while the caliber of other large waves of cryptocurrencies (XRP) and ethereum is down by around 80%.

Now, the respected Bitcoin Exchange Binance CEO Changpeng Zhao said he expects another "bitcoin round" to happen "sooner or later", saying to the CNBC's Crypto Trader program: "Even if I do not know what will catalyze a bitcoin bull run, I'm sure it will happen … sooner or later something will trigger it ".

Changpeng Zhao, often known by his initials CZ, said that while bitcoin and cryptocurrency trading on Binance, the largest exchange in the world by volume, has fallen by almost 90% since January, still believes that the company and the broader market is healthy.

"Compared to January [of 2018], we're probably 90 percent down. So we have only one tenth of the volume of trade compared to what we had in January. But, compared to how a year or two ago, we are still trading in huge volumes. The business is still going well, we are still profitable and we are still a very healthy company, "said CZ.

CZ also said that Binance has seen a steady increase in the number of active users and bitcoin deposits over the course of the year.

Binance has also revealed that it is opening its doors to institutional investors, laying the foundation for capital that many in the cryptocurrency sector hope will soon arrive from institutional investors and individuals with a high net.

In an average post, Binance outlined his plans for institutional investors, writing that he expects "a greater number of institutional investors to increase their allocation in this [cryptocurrency] asset class. "

Meanwhile, the chief executive of the bitcoin exchange and ShapeShift cryptocurrency, Erik Voorhees, said that US debt will be the trigger for the next rise in bitcoin prices.

"When the next global financial crisis occurs, and the world realizes organizations with 20 trillion dollars of debt, it can never repay it and therefore must print it, and then the fiat is condemned." See what happens to the crypt " Voorhees tweeted last week.

Elsewhere, Bloomberg data last week suggested that technical indicators show that the bitcoin may be about to move higher.

The directional movement index of Bitcoin (DMI) seems to have entered a new bullish phase, according to Bloomberg's analysis, while the price trend has fallen from the upper limit of the VERA band, which is "widely regarded as an encouraging sign".