Binance CEO compared Bitcoin and other digital assets. The details are in our news.
Bitcoin and Apple comparison from Binance CEO
The argument that cryptocurrencies criticizes the most is that these assets are extremely volatile. However, Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, thinks crypto assets are as volatile as any investment vehicle.
Binance CEO Changpeng Zhao (CZ), Bitcoin’s He argued that it is less volatile than stocks with a similar market cap, including in Apple and Tesla.
Speaking to Bloomberg News, Binance CEO said that volatility is seen in all digital asset classes, and this is a crypto market-specific issue.
See: BNB, BNB news and breaking news
CZ stated that approximately 300 million people are currently trading in crypto markets and that those entering the market should learn about Bitcoin before moving on to other coins.
When asked if the market entrants buy crypto at high prices, he answered as follows:
“People follow those who enter the market before them. There are people following the herd. Herd followers do not show decisive behavior. Whenever there is bad news, they immediately run away. Whenever positive news comes out, they rush to buy at that time. This causes more volatility in the market against crypto fans who understand and love projects and act according to the future of the project.”
The crypto market started this week with an upward trend. Ethereum, BNB and Dogecoin hit all-time highs this week. At the time of writing, ETH is trading at $ 3,345, BNB at $ 649, DOGE at $ 0.48, and Bitcoin at $ 56,100.
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