While bitcoin and ether are steadily climbing to new monthly highs about $50,500 and $3,800, CEO of Binance, one of the world's largest exchanges, announced that its US subsidiary was considering an initial public offering within three years.
Changpeng stated that Binance.US was going to do what Coinbase had done.The company's next move to go public will be a kind of confirmation of Binance's right strategy. As several countries, including the UK, have recently introduced a number of restrictions related to the exchange. During an interview about the timing of Binance.US initial public offering, Zhao said it depended on business growth. He added that stable business expansion over the next three years should be sufficient for an IPO.
However, there are risk factors.The main one is cryptocurrency bear market. Therefore, according to CEO of Binance, this period may last for 5 years. Cryptocurrency community freely admitted such statements which resulted in a rise of bitcoin and other altcoins. Binance's next move proves the stability of the cryptocurrency industry and its future prospects.
According to the latest reports, Binance.US is already conducting another round of private financing, which should take place within the next two months. This will lead to loosening control of the US branch by Binance's CEO, which will also prove Zhao's serious intentions. Earlier this year, Binance CEO noted that his parent company was not planning a public offering.
More and more global investors are interested in the cryptocurrency market.
According to a recent survey, the vast majority of global investors view cryptocurrencies as a more attractive investment proposition than traditional fiat money or gold. Even among those who have never traded in digital assets, most are already thinking about buying cryptocurrency in the near future. A recent survey by the Association of Forex Dealers (AFD) showed that national currencies are losing appeal for investors worldwide. Only about 14% of respondents said they would invest in fiat money, while the vast majority of investors, 76.9%, would rather buy cryptocurrency. Less than 9% of people do not face attractive prospects for these investments and choose gold.
Notably, only about 17% of survey participants transact in digital currencies at least once a month, while 35.1% of respondents trade in cryptocurrencies even more often. Nearly 23.1% of people have never traded in cryptocurrency or altcoins. About 77.1% out of 23% of investors said they would consider such an opportunity. As for regulation of this sphere, the majority of investors who took part in the survey confirmed the importance of this process. However, nearly 40.4% of respondents said that government control should be as limited as possible.
As for the US, another survey indicated that almost half of US consumers have invested in cryptocurrency in the past 6 months. A survey by digital asset platform Bakkt said nearly half of US consumer respondents had invested in cryptocurrencies in the last six months of the year. Totally about 2,000 people were surveyed. 32% of respondents, who had not invested in cryptocurrency, were interested in purchasing it in the next six months. The survey also showed that of those investors, who have already bought cryptocurrency, 58% of people consider it as a long-term investment, while 43% of respondents admit they plan to close deals when they make a short-term profit.
All these studies prove the market value and only stress the importance of digital assets. To say that the cryptocurrency market is doomed or has no future or potential, as some American billionaires do now, is at least incorrect.
Billionaire John Paulson recently said that he would not recommend anyone to invest in cryptocurrencies. The hedge fund manager stated in an interview that he was an ardent opponent of investing in cryptocurrencies, and called them a "bubble". He added that it lost its importance as they would end up worthless. However, many opponents changed their opinion to the market after a while, stating something completely different.
As for the technical picture of bitcoin, it did not change much yesterday. Its rebound to the area of $45,900 will be of crucial importance for the further short-term direction of the trading instrument. A 200-day moving average, which has a big impact on institutional investors, passes in that area. A breakdown of this range will push the BTC to the minimum of $42,500, and close to $37,300. It will be possible to talk about a new upward wave of bitcoin after the real output beyond the resistance of $50,400 with the subsequent updating of $54,400 and $58,000.
In the meantime, ETH has come close to the $3,800 level and is ready to storm it. Only such a scenario will send ETH to the highs of -$4,120 and $4,233. It will be possible to talk about the formation of pressure on ether only after overcoming the intermediate support of $3,330. Its breakdown will collapse the trading instrument to the lows of $3,040 and $2,700.
