Binance CEO Changpeng Zhao has recently expressed his opinion about the debate over the next half-bit reduction of Bitcoin. This event is scheduled for May 2020.
You can say that Bitcoin halving is the most anticipated event in the world of cryptocurrencies at this time. This due to the impact that the event had on the price of Bitcoin and other cryptocurrencies in the past.
However, the current debate is focused on deciphering since the end of last year if this halving has already had an effect on the market or not. Many cryptocurrency analysts and enthusiasts have had their opinions on this subject.
Some claimed that members of the cryptocurrency community should not expect any significant effect of the next Bitcoin halving. And it is that these analysts believe that the first upward trends experienced by Bitcoin are the only notable impact of it. Meanwhile, others claimed otherwise, and the rest remains neutral.
Binance’s CZ says Bitcoin halving has no effect yet
The CEO of the largest cryptocurrency exchange by volume of operations, Changpeng Zhao, aired on BlockTV a few days ago.
There he shared his opinion on whether the price of Bitcoin will be reduced by half or not. During the video interview, he noted that it is not usual to give price predictions because most cryptocurrency predictions end up being wrong.
However, he said it is necessary to say that Bitcoin halving does not have a set price, considering the market situation in the past and today.
Zhao also stated that the price should be expected to come and go, as Bitcoin strives to break and maintain prices above the $ 10,000 resistance until after halving, when its price is expected to have a positive impact.
This opinion of Zhao is also backed by Lolli’s CEO Alex Adelman. For him, the price will jump after halving, not before. This was specified in a conversation he had with Julia Chatterley of CNN. That is, the effect on the price is not yet determined.
At the time of this publication Bitcoin is below USD 10,000, specifically it is at USD 9,688.78, with a bearish change of 0.05% in the last 24 hours.
Degree in Liberal Studies from the Metropolitan University. Lover of innovation and believer of technology for the future.