Changpeng Zhao’s Take on The Upcoming Bitcoin Halving
CEO of crypto exchange Binance, Changpeng Zhao has suggested that the highly bullish block reward halving factor hasn’t kicked in, thus current bitcoins (BTC) price volatility is not to be worried about. He also suggested that Bitcoin’s movement will go upwards during an interview on February 20.
Binance CEO explained that taking the past into account, Bitcoin’s reward halving has lead to a positive influence on the price. While he admitted that there’s no guarantee of what the price would be after halving, he stated that he expects a miner to spend double the amount to mine a single coin.
Changpeng Zhao Notes Other Factors That Can Contribute to Halving
Zhao noted that an asset’s price is determined not by the cost of production but by its demand, but still, he holds the view that miners will not fancy selling below the production cost.
