With cryptocurrencies soaring this year, some wonder if asset classes, including Bitcoin, have been in a long-term slump or in the so-called crypto winter. I’m not YiHe, co-founder and chief marketing officer of Binance.
“Given the current Bitcoin price, I don’t think it’s completely winter,” he told Yahoo Finance in an interview. “Every time there is a winter, it’s always warmer than last winter, so one day you can say it’s 100% winter. The most annoying, like 2014, 2015, or two years ago. Things are probably stronger than last summer, so for now I don’t feel that bad. “
Instead, she believes cryptocurrencies are close to where the internet was during the 2000 dot-com bubble, especially pointing to Super Bowl and sports match marketing and cryptocurrency advertising.
“I think we’re very close to losses comparable to the days of the dot-com bubble,” she said.
So far, Binance’s public communications believe that the bear market is the time to build, and while token prices may fall, innovation continues.As an example, the company continues to hire others Major exchanges dismiss major staff..
Bitcoin on TuesdayBTCIt was down 2.75% to $ 22,459 in the last 24 hours. Digital coins have fallen 25% in the last seven days in hopes of aggressive Federal Reserve rate hikes, losing almost two-thirds of their value since their peak in early November.
She cannot predict price behavior for the next 6 months to 1 year, but he believes that the prices of major coins (Bitcoin, Ethereum, and Binance’s own BNB coins) will rise over the next 4 years. increase. The prediction is based on half of Bitcoin, and it took four years for Bitcoin to peak again after half the event.
He believes Ethereum will be a long-standing winner who can continue to add value because of its cultural support and hosting so many existing projects.
“It’s like a luxury shopping center,” she said. “Their gas prices are really high, but they have most of the traffic. They are also abundant and have many original users participating.”
She believes that Bitcoin, Ethereum and Binance coins, BNB, will continue to be the leader in cryptocurrencies over the next five years.
He believes that the blockchain technology that underpins cryptography and its applications will improve over the next five years. She said there would be more user cases using web3. Taking the example of a news publication, he builds company value by allowing news websites to determine the amount of advertising they need, and users who read the website provide insights and guide the company’s decisions. Said it would be useful.
She said, thanks to its transparency, blockchain technology improves tracking such as raising money for charities, monitoring donors, and tracking where and how money is spent in the program. I said I could.
“In the next five years, I think the technology will improve as engineers and engineers try to dig deeper and build the technical side,” she said. “It will take some time, especially in the BNB chain, many things will improve.”
Jennifer Schonberger covers Yahoo Finance’s cryptocurrencies and policies.Follow her in @Geniferism..