Changpeng Zhao Discusses the Bear Market and BTC

Binance CEO Changpeng "CZ" Zhao says the Bitcoin bear market is a good thing for crypto assets.

Binance CEO Changpeng was interviewed by Messari CEO Ryan Selkis at the Mainnet conference. CZ said that a four-year crypto market cycle is normal and that in the long run, a bear market is healthier than a seemingly never-ending uptrend. "Price corrections are actually good," Binance CEO CZ commented, emphasizing that investors should not look at token prices as signs of how the cryptocurrency market is doing. Instead, Changpeng Zhao said, investors should focus on the number of users buying and using crypto, as well as the number of different blockchains and Web3 projects. He noted that the industry is still at an "early" stage and still has a lot of room to grow. The Binance CEO argued that the crypto industry is actually in a healthy state, calling for "getting out of winter", referring to the so-called crypto winter in which the market found itself. However, CZ is quite optimistic about this, saying that what is happening represents more than just a bear market. When it comes to regulation, "we've seen a lot of progress in a positive direction for regulatory frameworks," he commented, arguing that some regulators, especially in the United States, are trying to incorporate crypto into existing financial frameworks, such as the security or commodity binary system. "There will be some cryptocurrencies that look like securities and maybe some that look like commodities and currency, but Bitcoin does all three," he said, adding that existing regulatory frameworks may not apply. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!