Saturday, January 16, 2021

CZ Binance Airs His Opinion on Whether Bitcoin Halving Is Priced In or Not

The CEO of Binance, Changpeng Zhao, popularly known as CZ has recently aired his opinion regarding the trending discussion about the upcoming Bitcoin halving scheduled to play out in May 2020.

Bitcoin halving is arguably the most anticipated event in the cryptocurrency ecosystem at the moment, due to the impact the event had on Bitcoin price and other cryptocurrencies in the past.

And there has been a ranging topic since late last year, regarding whether the much-anticipated halving has priced in or not. Many cryptocurrency big guns, analysts and enthusiasts have had their opinions on this trending topic.

Some claimed that the crypto community members should not expect any significant effect of the upcoming Bitcoin halving, believing that the earliest uptrends experienced by the digital token is the only notable impact of the upcoming event, while others claimed otherwise, and the rest stays neutral.

CZ Binance Says Bitcoin Halving Has Not Priced In

The CEO of the largest cryptocurrency exchange by trading volume, Changpeng Zhao, also known as CZ Binance was on air at BlockTV some hours ago.

There he shared his opinion on whether Bitcoin halving is priced in or not. During the video interview, he pointed out that he’s not usual with giving price predictions because most of the cryptocurrency forecasts end up to be wrong.

However, he said it’s necessary he opines that Bitcoin halving is not priced in, considering the market situation in the past and now.

CZ Binance also stated that price back and forth should be expected as BTC strives to break through and maintain prices above $10,000 resistance until after halving when its price is generally expected to be positively impacted.

Lolli’s CEO Alex Adelman Corroborates CZ Binance Assertion

The CEO of Lolli, Alex Adelman also agreed with those supporting the fact that Bitcoin halving is not priced in, believing that BTC price will skyrocket after halving.

He made his opinion known in a recent conversation with CNN’s Julia Chatterley.

He said, “When I talk to my friends that are on the deep institutional side that have billion-dollar hedge funds, they are still waiting…I just don’t think that it has been priced yet.”

Meanwhile, Bitcoin (BTC) lost its grip on $10,000 support about 2 days ago, and it hasn’t resurged from the downtrend ever since. At press time, BTC is trading at $9,617.50, with a relatively 5% price plummet in the last 24 hours.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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