CEO of Binance, Changpeng Zhao, believes that the present price of slightly over $20k is extremely low even though he says that Bitcoin (BTC) may take a few months to a couple of years to return to all-time highs.
Even the $20k price is one that investors in 2018 would have been delighted to see four years later CZ told the UK Guardian ePaper. Bitcoin (BTC) has now stabilized and bulls are attempting to reverse the trend after it fell below $17,600 last week.
Bitcoin (BTC) price is normal, said the CEO of Binance earlier this month in an interview. The price of Bitcoin (BTC) was higher than the previous market top in 2017, and that price volatility was to be expected as the crypto industry grew, CZ added.
CZ stated that his company was always answering queries from regulatory bodies all around the world when questioned about the US regulatory authorities’ inquiry into whether Binance violated securities laws when it launched its ICO in 2017.
It might be challenging for many of the crypto projects that began around the $68k peak when asked if he felt the industry was in a “crypto winter”.