Panic-selling by cryptocurrency holders is one of the reasons behind the recent market downturn. But this should not be the case, however, with Changpeng Zhao(CZ), owner of the world’s largest crypto exchange assuring traders that the end of the market has not come.
In his tweet, which is below, CZ revealed that he just convinced one of the lawyers working for Binance to take payment in Bitcoin. This may not have been a big deal if it happened a week ago, but it is, giving the state of the crypto market.
Just converted one more of our lawyers to take $btc for fees, even on a day like this.
— CZ Binance (@cz_binance) November 19, 2018
In a follow-up tweet, CZ reaffirmed his tweet by saying, “crypto is not going away.”
Crypto Markets Low Trend Not The End of The Road
At a time like this, it is easy for people to forget that just a little more than a year ago, the value of Bitcoin was hovering below $4000.
Meanwhile, the current asking price is still sitting well above $4000, and in the hours leading up to press time, the BTC value has found support between $4400 and $4500.
More panic-selling will only lead to more losses when there is little reason to quake. A rebound at this point will only strengthen the crypto market further and maybe push it to the next level of growth.