Binance CEO Changpeng Zhao commented on the fluctuation of Bitcoin (BTC). CZ suggested that the biggest cryptocurrency volatility in terms of market capitalization is likely much less compared to stocks of companies like Apple and Tesla with similar market capitalization.
Woobull data shows that Bitcoin’s 60-day volatility has been decreasing since the beginning of 2021. Data from investment research portal AlphaQuery reveals that the 60-day fluctuations of Tesla and Apple stocks over the same period were still significantly lower.
Binance CEO’su, pazartesi günü In an interview with Bloomberg TV He said that the volatility of cryptocurrencies is no different from stocks: “Ripple is everywhere […] It’s not something specific to crypto. ”
“There’s always a large number of people having the herd mentality than the guys who actually do serious research.”@cz_binance, founder of the world’s largest cryptocurrency exchange Binance, discusses volatility of #cryptocurrency markets on @BloombergTV pic.twitter.com/UAT4Kpy1tu
— Bloomberg (@business) May 3, 2021
Zhao said that the high volatility is often responsible for those who are not as committed to crypto projects as their true advocates and whose main motivation is returns.
“There are a lot of people with a herd mentality rather than those who are actually doing research. Whenever there is negative news, those with a herd mentality run away. When there is positive news, they flock to projects and increase volatility. “
On the other hand, the crypto market started the new week with a significant rise and the total value of the market has increased by 4.5 percent in the last 24 hours. In the same period, Ether, which gained 8 percent value, exceeded 3 thousand dollars, while Bitcoin also tested 60 thousand dollars for the first time since mid-April.