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Binance CEO Bullish on Bitcoin and Crypto Markets – Here’s Why

July 09, 2018

Binance CEO Changpeng Zhao isn’t worried about the current crypto bear market.

In an interview with the founder of Ox3Production Bianca Chen, Zhao said Bitcoin’s volume now compared to one year ago is one of the keys to understanding just how far cryptocurrency has come.

@cz_binance told me the crypto market is bullish compared with a yr ago when bitcoin was around $1000 and trading volume was 1/10 of today. What do you think? More scoops in Next: Blockchain docuseries. Check out https://t.co/B9YAQKlOJu for weekly exclusive videos and articles. pic.twitter.com/KZOZ8Jr0r7

— Bianca Y Chen (@BiancaYijiaChen) July 8, 2018

Zhao responded to the above tweet from Chen, and offered a succinct overview of the spike in Bitcoin’s volume and price over the last 12 months.

Binance is having an incredible year despite the market downturn. In a recent interview with Bloomberg, Zhao said the company expects to earn a net profit of $500 million to $1 billion this year.

The company is pushing to launch its decentralized exchange Binance Chain this year, and recently opened its first fiat exchange in Uganda.

Binance Coin (BNB) is also on a roll this year and is up about 69% with another coin burn on the horizon.

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