Join CoinRoop Telegram Join Our Telegram Channel Now For Latest Crypto Updates

Binance Founder Changpeng Zhao Teases Buying Bitcoin Dips

Binance Founder Changpeng Zhao Teases Buying Bitcoin Dips

Changpeng “CZ” Zhao, the founder of Binance, comments on why it is best to purchase Bitcoin when the price dips. Along with this, he further seems to speculate that alsongside President Donald Trump’s inauguration, he will also take measures via executive order to indulge himself in the cryptocurrency market. Zhao remarks We’re recovering, especially in the past 24 hours when Bitcoin prices soared.”

Changpeng “CZ” Zhao on Bitcoin Purchases

Responding to a question on crypto Twitter about price cuts, Zhao noted, “This is an opportunity to buy,” when exactly these opportunities may not arise. He further elaborated and associated the rather new and unexplored momentum with the onset that Bitcoin gained its traction.

Changpeng “CZ” Zhao on Bitcoin Purchases

While also ensuring readers that those were not investment advice, he did raise quite a few eyebrows due to Michael Saylor’s MicroStrategy purchasing worth $243 million in Bitcoin.

Nevertheless this only further enabled greater purchases for other investors expecting a long term profit as MicroSratgy secured the purchase of 450,000 BTC.

Executive Order by Donald Trump

Speculations suggests that on the day of being elected US president, Donald Trump will sign executive orders regarding issues around cryptos. It has been reported that these orders address issues surrounding the de-banking and the bank accounting policies concerning cryptos.

The current template states that the banks should be treated with the digital assets as liabilities. However, under Trump’s Order this practice would cease to be, as the filing order has also suspended it.

Furthermore, Trump is also likely to be in favor of many US Crypto ETF issuers that have already been registered with the SEC. JPMorgan estimates note that within one year of the ETF’s approval, Solana and XRP ETFs could be worth around $15 Billion.

Outlook on BTC Price Rebound

On the advice of Binance founder Changpeng Zhao, Bitcoins began their price upward recovery. Bitcoin experienced a 5% rise during the last 24 hour period, reaching the value of 96,598 which is significant growth when compared to the previous slump.

In trading and sales, the combined metrics for the previous 24 hour period showed a quarter on quarter growth rate of around 138.74% and this trend is expected to improve as the overall economic conditions see an upscale.

Outlook on BTC Price Rebound

QCP Capital however, managed to observe that the US PPI and CPI inflation numbers may may be reported higher than what was initially projected as traders learnt central banks would maintain higher interest rates for a longer period than previously expected.

They additionally stated that if enacted Trump’s executive orders around “de-banking”, and if repealed a strangling crypto accounting policy could be a much needed glint of hope to the market.

With Bitcoin recovering along Trump’s inauguration being around the corner, it is expected that the current bearish market sentiment surrounding Bitcoin will change.

Post Disclaimer

The content on CoinRoop.com is for informational purposes only. We do our best to provide accurate and up-to-date information Of article Binance Founder Changpeng Zhao Teases Buying Bitcoin Dips, but please note that cryptocurrency investments and related activities carry inherent risks. Always do your own research and consult with a professional before making any financial decisions.

We do not offer financial advice, and we cannot guarantee the success of any investment or strategy mentioned on this site. Your use of this website and its contents is at your own risk.

By using CoinRoop.com, you acknowledge that you understand and agree to these terms.

Techcon The 10-year-old crypto Blogger and an accomplished individual's voice is Techon in the Crypto World. Carter began his journey with Bitcoin in 2011 when he helped anyone interested in learning it through his well-appreciated blog. This skill is what makes Techno a storehouse of knowledge for both newbies and veterans since he breaks even the complex with lots of simplicity and yet offers balanced opinions. Through his decade-long experience in this field, he has evolved into a seasoned professional, which gave him access to the information needed in such a vast and well-orchestrated industry of Digital Currencies.