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The volatility in the cryptocurrency industry is one of the reasons why some mainstream players and governments still shy away from digital assets, but one crypto executive is particularly bullish on the market, which he believes will prevail amid the ongoing macro trends.
In fact, Ben Zhou, the co-founder, and CEO of crypto exchange Bybit, sees the current uncertainty in the sector as a major opportunity for his company as it was “born in a bear market,” as he told the attendees at a TOKEN2049 panel in Singapore, according to a press release published on September 30.
Speaking on how crypto exchanges and the industry, on the whole, would fare in the currently unfavorable economic environment, Zhou said that Bybit was designed differently from traditional exchanges.
He also compared the crypto market to traditional finance, opining that:
“We are bullish. For us, the macro trends are nothing to fear. (…) Rising inflation and interest rates, printing vast quantities of fiat currency, low growth or no growth – all highlight the weakness in traditional finance.”
Meanwhile, Zhou has several reasons to feel positive about the future of the crypto market, as demonstrated by the record numbers of investors ditching their euros and pounds in favor of Bitcoin and Ethereum (ETH), as Finbold reported.
On top of that, major mainstream financial players are increasingly adopting crypto products as part of their operations, including Singapore’s largest bank, which has recently expanded its crypto trading services and products for an additional 100,000 of its clients with a minimum investment of $500.
Finally, both retail and billionaire investors are sold on crypto as well, including Stanley Druckenmiller, who has suggested that the mistrust in central banks over containing inflation could usher in a crypto “renaissance.”
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master’s degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.
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DISCLAIMER WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.
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