“Bitcoin is dead” is the best you can hear, according to Binance CEO | Technology

These are the words with which the CEO of Binance invites to say that Bitcoin can still go higher, and we tell the reason behind it.

Cryptocurrencies are not going through their best moment, and proof of this is the price of Bitcoin, perhaps the best known and most stable within the crypto market.

And it is that recently we told you about the incredible drop in Ethereumwhich seems not to have finished yet, and that is has been one of the many affected in such a volatile market.

It is with this that all eyes are on Bitcoin, main cryptocurrency in the market and one of the ones that currently has the highest value, and that this weekend hit a decline to $17,600.

Changpeng Zhao, CEO de Binance, predicts that after a fall like the one currently suffering Bitcoin a rise or recovery will occur, based on the history of this cryptocurrency, which has lost 70% of its value since November 2021.

In that month, Bitcoin price stood at $20,631thus reaching a maximum that has been in decline, reaching a minimum that has not occurred since November 2020 this same weekend.

This digital asset has already managed to take precedence enormously after large falls, the most significant being those suffered in 2017 and 2013, although the macroeconomic adjustments of the market in those times are not assimilated in difficulty to the current.

In this year 2022, the increase in interest rates and liquidity restrictions, inflationary pressures and problems in the supply chain, have hit the stock market hard.

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Also keep in mind that risk aversion hits faster-growing stocks the hardest, as does their growth and cryptocurrencies.

Another of the main reasons for these declines it has to do with the war in Ukraine, and the constant closures in China due to Covid-19which make the global scenario even more difficult, and give investors a sense of caution.

Apart from these macroeconomic factors, it has also been affected by events that could have helped to erode confidence in cryptocurrencies. as was the case of TerraUSD and its sister Lunaor the creditworthiness of the cryptocurrency lender Celsius.

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