Friday, July 3, 2020
No menu items!
  • News
  • Cryptocurrency
  • Contact Us
More

    CZ Binance Thinks Bitcoin Price Could Repeat 9,000,000% Price Surge in the Next Financial Crisis

    Must Read

    Significance of MimbleWimble to Litecoin (LTC) As Its Testnet Launch Sets for Mid-September

    David Burkett, the Litecoin (LTC) Senior MimbleWimble Developer, has on 1st July 2020 provided an update on the progress...

    Cardano’s 5 Major Innovations Announced in the First Day of Shelley Virtual Summit

    The firm behind development in the Cardano ecosystem, IOHK, started the Shelley Virtual Summit with the announcements of five...

    Elon Musk Just Cleared the Air about a Plan to Build On Ethereum or Using and Holding ETH

    The CEO and co-founder of Tesla, Elon Musk, has recently pointed out that he does not build anything on...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    The CEO of Binance CZ (Changpeng Zhao) has recently solicited the view of cryptocurrency enthusiasts regarding the extent to which Bitcoin (BTC) could rise in the next financial crisis.

    This question followed the estimation of the percentage increase (9,000,000%) of Bitcoin in the past 10 years when fiats and stocks were doing perfectly well.

    Historically, Bitcoin (BTC), the first and largest cryptocurrency was created after the last financial crisis that occurred in 2008.

    And it was specifically designed by the anonymous Satoshi Nakamoto to serve as a safe haven during the financial crisis. BTC started like a commodity without value, but the digital currency has since risen to prominence.

    After Bitcoin emerged, tons of digital currencies also came to limelight. All of them with separate power and use cases conjoined for the disruption of the global financial system.

    However, Bitcoin still stands tall amidst over 2,000 digital currencies in the crypto market. Other cryptocurrencies often replicate the price trend of BTC due to its market dominance.

    Its outstanding performance when compared to conventional commodities such as Gold made it the best performing asset in the last decade.

    Even with literal close look without calculation, one could easily concur that Bitcoin outperformed other assets, in terms of price increase in the last 10 years if its steady growth since inception, is put into consideration.

    BTC is now priced around $8,500 price region. Bitcoin halving is fast approaching. Many crypto enthusiasts expect history to repeat itself.

    Despite the fact that Bitcoin Halving is close by, the digital currency is still experiencing price growth reluctance. A lot of Bitcoiners expect a better price situation for the digital currency than this.

    At the time of writing, BTC is trading at $8,758.03, with a 1.58% price upsurge in the last 24 hours.

    CZ Binance Quantifies the Possibility of Bitcoin Leveraging the Next Financial Crisis

    The CEO of Binance, who is also a stern fan of Bitcoin recently asked for the view of the Crypto Twitter about the possibility of BTC replicating its last decade’s performance.

    According to his estimation, Bitcoin has risen by 9,000,000% in the last 10 years. So, with a looming financial crisis, CZ thinks BTC could leverage the possible occurrence for another decade of a significant price increase.

    He shared this, “Bitcoin was created after the last financial crisis. It has risen 9,000,000% in the last 10 years when fiat and stocks were strong. How do you think it will do in the next financial crisis?”

    This attracted lots of responses and reactions. In a nutshell, the majority of the Bitcoiners that responded believe Bitcoin will continue to rise and could repeat the same surging trend of the last decade. While others such as XRP enthusiasts came up with contrary opinions.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Significance of MimbleWimble to Litecoin (LTC) As Its Testnet Launch Sets for Mid-September

    David Burkett, the Litecoin (LTC) Senior MimbleWimble Developer, has on 1st July 2020 provided an update on the progress...

    Cardano’s 5 Major Innovations Announced in the First Day of Shelley Virtual Summit

    The firm behind development in the Cardano ecosystem, IOHK, started the Shelley Virtual Summit with the announcements of five major innovations. Aside from the release...

    Elon Musk Just Cleared the Air about a Plan to Build On Ethereum or Using and Holding ETH

    The CEO and co-founder of Tesla, Elon Musk, has recently pointed out that he does not build anything on Ethereum (ETH), and he does...

    Currencycloud Seals Partnership with Ripple to Foster Cross-Border Payments Using RippleNet

    Currencycloud, the leading provider of embedded B2B cross-border payments for platforms of the future, has today announced a partnership with Ripple, the US-based blockchain...

    Bitcoin Is Not a Property, Theft of 100 BTC Is Not a Crime –Russian Court Rules

    A court in Russia has ruled out the request of a victim that seeks the restitution of a stolen 100 BTC, as the court...

    More Articles Like This