Many personalities have already discussed or analyzed the next Bitcoin halving. On this occasion, CZ from Binance gives his opinion on this upcoming event.
It was reported that Binance CEO, Changpeng Zhao, expressed his opinion about the debate over the next reduction by half of Bitcoin. It should be remembered that this event is scheduled for next May 2020.
It can be said that the Bitcoin halving is currently the most anticipated event in the world of cryptocurrencies worldwide. This is due to the impact that the reduction by half had on the price of Bitcoin and other cryptocurrencies in the past.
However, the current debate has been focused since the end of last year on deciphering whether this halving has already affected the market or not. Many cryptocurrency analysts and enthusiasts have given their opinions on this subject.
Some consider that the members of the cryptocurrency community should not expect any significant effect from the next Bitcoin halving. It should be noted that these analysts believe that the first bullish trends experienced by Bitcoin are the only notable impact that it has had. Meanwhile, others think otherwise and the rest remain neutral.
Zhao keeps his analysis open to all possibilities since he refuses to assure anything in such a changing and volatile world as that of Bitcoin and cryptocurrencies in general. Instead, he said that, in his opinion, the halving has not impacted Bitcoin.
A few days ago, the CEO of the largest cryptocurrency exchange by volume of operations, Changpeng Zhao, appeared on BlockTV.
The executive 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 customary to give price predictions because most cryptocurrency predictions are eventually wrong.
However, he believes that it is necessary to say that the Bitcoin halving does not have an established price, considering the market situation in the past and the present.
Zhao also stated that it would be necessary to wait for the price to come and go, as Bitcoin to break and maintain prices above the USD 10,000 resistance until after the halving when its price is expected to have a positive impact.
Binance CEO’s opinion is also backed by the CEO of Lolli, Alex Adelman, who considers that the price will jump after the halving, not before. This was specified in a conversation that he had with Julia Chatterley from CNN, stating that the effect on the price cannot yet be determined.
At the time of writing this article, Bitcoin is below USD 10,000, specifically USD 9,688.78, with a bearish change of 0.05% in the last 24 hours.
The price of the main cryptocurrency in the market cannot be accurately predicted, but the behavior it has presented in the past helps users to maintain their confidence in it. On the other hand, its ability to recover from all-time falls means that it remains the best option for investors.
By Willmen Blanco