The chief executive officer of one of the world’s largest crypto exchanges Binance, Changpeng Zhao tweeted that everyone he has met that got into crypto, thinks they got in too late, no exceptions, himself included. Until five years later, he added. However, he still expects the same will be true in 2025 and that we are still early in the game, he further opined.
“There are more holders than traders in the crypto space.”
The Binance CEO asserts there are more holders in the digital currency space than traders based on prevailing data analysis. However, trading “makes you feel like you are in control,” he added. Changpeng Zhao expects that those who venture into crypto now will have better reports in the future, with the projection of the expected period of possible viable outcomes in the next five years. According to the CEO, the crypto space will be evolving for new traders by 2025, because he thinks this is the period it will take for such progress to be solidified. He himself believed that he got into crypto quite late like everyone else, but now he thinks he has broke-even, and the situation would be the same for those who enter the space today.
“Greed and fear drive crypto trading.”
When asked about what fair value of bitcoin could be, CZ opined that the fair price of bitcoin for anyone is the highest price someone in the world is willing to pay for it, and you have access to that guy. The CEO further pointed out that greed and fear are the biggest emotions in crypto trading. Avid investors may not take the necessary precautions in trading, which may result in losses eventually. This includes not following market trends and ignoring red flags, he added. Earlier, the founder of Digibyte, Jared Tate also said that the crypto industry runs with “greed and rampant pillaging.”