Altcoin News: Binance CEO Predicts a New Altcoin Rally for a Limited Number of Projects
The CEO of the Binance Cryptocurrency Exchange Changpeng Zhao joined theorists on the topic of whether market participants should expect the arrival of a new altcoin rally season. In a CNBC’s Crypto Trader host, Ran NeuNer, he said that he was “quite sure” that this would happen sooner or later.
Zhao believes that the coming rally will be much more sustainable than in 2017. According to him, only those projects that managed to develop truly worthwhile products could survive the fall of ICO tokens. Therefore, he predicts that this time growth will be selective.
“The industry is evolving and we are now seeing real projects with real blockchains coming out,” he says.
Earlier, Jeff Dorman, an investment director of asset management in Arca blockchain firm, made a similar prediction, saying that the sooner people abandon the idea of a comprehensive altcoin season, the sooner some of them will start to grow.
Veteran trader Peter Brandt, meanwhile, argues that market participants do not really need to rely on another rise in alternative cryptocurrencies and should instead focus on Bitcoin.
Author: Marko Vidrih