Changpeng Zhao States Cryptocurrencies Are Currently Undervalued

The CEO of Binance, Changpeng Zhao, better known as CZ explained that the current cryptocurrency market is severely undervalued. He spoke at Binance Blockchain Week which took place in Singapore.

CZ explained that cryptocurrencies were on the rise and was overbought during the 2017 hype, leading to several new members into the crypto community and new projects. However, the hype only lasted for a while as the price slipped eventually.

Binance’s founder, went on to explain the positivity in the crypto markets even though it’s falling in price. He stressed on the developments that are taking place during the down periods, which will eventually be used during times of highs.

CZ said it best-

“I’m very, very confident that this space will get so much bigger, we just got to be prepared for when that happens.”

Binance has already started implementing a fiat to crypto exchange for the European markets. It has further ventured into marketing BitTorrent’s BTT token with the help of Tron on Binance’s Launchpad.

Changpeng Zhao has grown to be an important personality for the cryptocurrency industry as he’s not only building but giving back too. He recently launched Binance Academy which is a free blockchain education platform to encourage further education on cryptocurrencies and blockchain. He also announced Binance Charity, which helps poverty-stricken families as well as help in restoration efforts by the donations of Bitcoin, Ethereum and Binance Coin.

Zerocrypted Opinion

Cryptocurrencies have been known to be extremely volatile, and this is seen with extreme highs and lows especially with Bitcoin. Bitcoin’s all-time high was $19,891 while the current prices have slipped to $3,608.50.

The crypto industry has advanced quite a lot, and so 2019 could see the upside of things from a fall in 2018. With institutional players showing interest, the crypto space could be flooded much sooner than later!

One thing we could learn from CZ is the fact that he doesn’t check the prices in the cryptocurrency market but focuses on building his product.

 

Image Source – Fortune

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