Well before FOMC meeting, Binance CEO “CZ” is optimistic about the crypto market

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Last Updated on July 23, 2022 by Bitfinsider

In a tweet sent on Saturday, Binance CEO “CZ” repeats his bullish prognosis for the cryptocurrency market. Due to the utility’s market-wide growth, he thinks “BUIDL” is the better option right now rather than “HODL.” Despite several unsuccessful initiatives and few vendors, the number of net users and institutions using cryptocurrencies is rising.

Source: Twitter

He used the Internet boom that occurred after the dot com bubble burst in 2000 as an example. The businesses that made it through the crisis have grown into bigger, more robust businesses.

Binance CEO “CZ” Reaffirms the Bullishness of the Crypto Market

This week has seen a significant uptick in the cryptocurrency market, with prices for Bitcoin (BTC) and Ethereum (ETH) both quickly soaring past significant psychological thresholds of $22,000 and $1500, respectively.

The market sentiment has changed from bearish to bullish as a result of the cryptocurrency fear and greed index, which has a current value of 31, moving from “extreme” to “fear” and Federal Reserve officials and governor backing a 75 basis point rate hike this July.

The CEO of Binance, “CZ,” has joined other cryptocurrency influencers in reiterating the positive market outlook. On July 23, the CEO of Binance stated in a tweet that the activities related to investment, transfers, micropayments, remittance, DeFi, NFT, metaverse, etc. are expanding. In reality, the fundamentals have not changed despite some enterprises failing and some individuals selling. Institutions and internet users are also growing.

Analysts see an overall healthy recovery for the Crypto Market

If the price of Bitcoin (BTC) remains above $22.8k, the important 200-weekly moving average (WMA), until the month’s end, cryptocurrency analysts Michal van de Poppe, Rekt Capital, PlanB, and others have earlier verified a bullish surge. Additionally, a rise in bitcoin prices above the $23.8k mark is likely to drive the price past $28k.

At the time of writing, the prices of BTC and ETH are $22,911 and $1582 respectively, up over 12 and 32% week over week.

As Vitalik Buterin revealed the Ethereum Roadmap at the Ethereum Community Conference in Paris, Ethereum would become deflationary after the Merge. Under the correct circumstances, the supply in circulation will drop and prices will rise.


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  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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