The volatility in the cryptocurrency industry is one of the reasons why some mainstream players and governments still shy away from digital assets, but one crypto executive is particularly bullish on the market, which he believes will prevail amid the ongoing macro trends.
In fact, Ben Zhou, the co-founder, and CEO of crypto exchange Bybit, sees the current uncertainty in the sector as a major opportunity for his company as it was “born in a bear market,” as he told the attendees at a TOKEN2049 panel in Singapore, according to a press release published on September 30.
Crypto thriving amid a poor macro outlook
Speaking on how crypto exchanges and the industry, on the whole, would fare in the currently unfavorable economic environment, Zhou said that Bybit was designed differently from traditional exchanges.
He also compared the crypto market to traditional finance, opining that:
“We are bullish. For us, the macro trends are nothing to fear. (…) Rising inflation and interest rates, printing vast quantities of fiat currency, low growth or no growth – all highlight the weakness in traditional finance.”
Several indicators of crypto’s bright future
Meanwhile, Zhou has several reasons to feel positive about the future of the crypto market, as demonstrated by the record numbers of investors ditching their euros and pounds in favor of Bitcoin and Ethereum (ETH), as Finbold reported.
On top of that, major mainstream financial players are increasingly adopting crypto products as part of their operations, including Singapore’s largest bank, which has recently expanded its crypto trading services and products for an additional 100,000 of its clients with a minimum investment of $500.
Finally, both retail and billionaire investors are sold on crypto as well, including Stanley Druckenmiller, who has suggested that the mistrust in central banks over containing inflation could usher in a crypto “renaissance.”
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