Changpeng Zhao Expresses His Optimism for the Future of Digital Currency after Calling 2018 a Correction Year for Digital Currency

2018 is an unforgettable year in the digital currency industry. This year will forever remain in the heart of many digital currency investors and enthusiast, especially those that invested in digital currencies late last year and early this year. Digital currencies gained more traction last year, and this caused a massive spike in their values late last year. Bitcoin (BTC) surged over the $19,500 mark, and it carried the altcoin market along. However, the crypto market is suffering a great loss at the moment. Bitcoin has lost more than 75 percent of its value so far this year. Some other digital currencies have seen a decline of more than 90 percent from their all-time high. The valuation of the crypto market is also at a new yearly low.

2018 Is a Correction Year for Digital Currencies – Changpeng Zhao

In a recent interview with Bloomberg, which was released on December 19th, Changpeng Zhao expressed his optimism for the future of the digital currency industry. Changpeng Zhao is the CEO and co-founder of Binance – a leading digital currency trading platform.During the interview, Zhao called 2018 a year of correction for digital currencies. The CEO spoke about the bearish market that traders faced this year. The market even turned for the worse in November when the crypto market crashed further. The CEO said that “while price is a strong attraction point” for speculators, the industry will see further growth, thanks to developers that develop apps and real use-cases that enhance the adoption of digital currency.

Was Binance Affected By the Price Correction?

Changpeng Zhao was asked how the digital currency trading platform was affected by the price correction. In response to this, he said that Binance launched one fiat trading platform. He added that the firm plans to launch two or three more in the next couple of weeks and ten more fiat trading platforms in 2019. Zhao said that none of their plans changed and they are still forging ahead aggressively. Over the past year, there has been an increased level of government involvement and regulation in the digital currency space. With regards to that, the CEO said: “The digital currency space wants clarity, and there is much uncertainty in a lot of countries across the globe.” Specifically, he said the digital currency industry is in need of regulations that promote innovation rather than things that hamper it. Zhao wrapped up the interview by expressing his confidence in the crypto industry, adding that he believes in the future of the digital currency industry. Bitcoin (BTC) Price Today – BTC / USD
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Binance is one of the fastest growing digital currency trading platforms in the world. The activities of the trading platform have been expanded beyond that of a normal trading platform. The innovative wing of the firm –Binance Labs – launched its incubator program back in August. The program recently graduated its first batch of blockchain projects that received mentoring and financing via the initiative. A few hours ago, the philanthropic arm of Binance – BinanceCharity Foundation – launched a blockchain-driven charitable campaign. The program is aimed at supporting youths in Malta. Those that will benefit from the initiative include disadvantaged children and terminally ill patients in Gozo and Malta.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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