Binance Founder Changpeng Zhao Teases Buying Bitcoin Dips

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Changpeng “CZ” Zhao, founder of Binance, has shared his views on purchasing Bitcoin during market drops. This is happening as there are rumors that U.S. President-elect Donald Trump might issue orders concerning cryptocurrency on his inaugural day. Simultaneously, Bitcoin prices have demonstrated a rebound with a significant increase over the past 24 hours.

Binance Founder Changpeng “CZ” Zhao on Buying Bitcoin

In a recent post, the founder of Binance, Changpeng “CZ” Zhao, emphasized that fluctuations in Bitcoin’s price can present beneficial purchasing opportunities for both traders and investors looking to acquire Bitcoin tokens.

He mentioned that the current progression mirrors the initial indicators which some cryptocurrency investors and speculators might have overlooked as Bitcoin’s price started climbing on graphs. However, he emphasized that this statement should not be construed as financial advice.

Notably, MicroStrategy, led by Michael Saylor, purchased approximately $243 million in Bitcoin, boosting their total Bitcoin holdings to 450,000. This significant investment underscores a growing trend among investors who view Bitcoin as a promising long-term asset.

Donald Trump’s Executive Order

It’s expected that when Donald Trump takes office as U.S. President, he might issue executive orders concerning cryptocurrencies on his inaugural day. These orders are said to touch upon policies regarding de-banking and bank record-keeping of digital currencies. As it stands now, bank accounting requires these digital assets to be listed as liabilities. However, if signed, Trump’s executive order could alter this policy.

It’s anticipated that Donald Trump will approve multiple US Crypto Exchange-Traded Funds (ETFs) that have previously been submitted by issuers. JPMorgan predicts that Solana and Ripple ETFs could attract approximately $15 billion in the first year following their approval.

BTC Price Recovery

Bitcoin prices are rebounding following guidance from Binance founder Changpeng Zhao. Over the past 24 hours, Bitcoin’s value has increased by 5%, currently trading at approximately $96,598. This represents a substantial recovery from its recent downturn. Additionally, the 24-hour trading volume experienced a notable surge of 138.74% and is anticipated to further escalate as market conditions improve.

Regarding QCP Capital’s perspective, there’s a chance that the US Producer Price Index (PPI) and Consumer Price Index (CPI) inflation figures might show an increase. This is due to traders adapting to the prolonged high-interest rate environment. Moreover, they mentioned that if President Trump were to sign executive orders immediately focusing on “de-banking” and reversing a controversial cryptocurrency accounting policy, it could potentially invigorate the market.

Currently, opinions about Bitcoin (BTC) lean towards a downtrend. Yet, there’s speculation that these sentiments could shift positively as Bitcoin begins its recovery and we get nearer to the U.S. Presidential inauguration of Donald Trump.

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2025-01-14 14:03