NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

CZ: The Pandemic Situation Has Benefited the Crypto Industry

Samuel Wan
Samuel Wan
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Despite the “Black Thursday” crash in March this year, Binance CEO Changpeng Zhao (CZ) said the panic situation has been good for crypto, especially in terms of segment growth.

The comment came during an interview with Fortune hosts Jeff Roberts and Jen Wieczner. During the interview, CZ shared his opinion on several issues, including central bank digital currencies, the BitMEX saga, and regulation.

But most intriguing of all was CZ’s thoughts on how the panic situation has benefited the crypto industry.

Balancing the Ledger is back! For our return, Binance CEO @cz_binance — the most intriguing guy in crypto — shared his thoughts on China, the pandemic much more w/@jenwieczner and Ihttps://t.co/ZSW87fMSt0

— Jeff Roberts (@jeffjohnroberts) October 21, 2020

Panic Fuelled Market Crash

Late February to early April 2020 was a period of extreme volatility in both the crypto and legacy markets.

During that time, news of the virus spreading to the western world had triggered fear and panic selling in the markets. This resulted in the most significant points drop in the Dow Jones Industrial Average history at the time.

However, this was followed by two further record-breaking drops on March 12 and March 16.

Crypto markets didn’t fare much better. The three weeks from February 24 saw Bitcoin drop a total of 62% from its previous close of $9.9k.

Bitcoin weekly chart

Bitcoin Weekly Chart YTD. Source: BTCUSDT on TradingView.com

Crypto Has Benefitted From The Pandemic

Since then, crypto has bounced back. Moreso, this week, which sees Bitcoin make a new year-to-date high, peaking at $13.2k.

Some analysts attribute this to PayPal joining the crypto bandwagon. CZ has tweeted a list of tokens that make the cut in the initial stages of their rollout plan.

Paypal ❤️ #BUSD pic.twitter.com/yo4grGgMyT

— CZ 🔶 BNB (@cz_binance) October 22, 2020

However, in truth, many other factors have been building up to this point, including how the panic situation has framed crypto as a better alternative to fiat.

On that, crypto convert Micheal Saylor, the CEO of MicroStrategy, who was the first public listed firm to buy Bitcoin, said:

“First I have a mega, mega, mega problem, and the problem is I have a lot of cash and I’m watching it melt away… [On investors] they’re smarter than I am, I’m not joking, I’m being serious, they are smarter than I am. They knew before I knew that cash is trash, and you’re a fool to sit on the cash.”

In terms of Binance’s growth, CZ spoke about a wave of new buyers coming in over the past half-year or so. He mentioned that during lockdowns, digital platforms, in general, have flourished due to the time people were spending at home.

“we see a lot more users coming in. From web traffic, from the number of users, we’re now seeing all-time high traffic. It’s higher than from when Bitcoin was at twenty thousand.”

When tied with a growing realization of the fragility of traditional finance, interest in crypto is exploding.

“quantitative easing, printing of money, stimulus packages, all of those things push people more towards crypto. Also, we had DeFi innovation this year. So DeFi really picked up in the summer. And so, all of those thiings help the growth.”

While the term mass adoption has somwhat lost its sparkle due to the many false starts, perhaps this time around is different.

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin resiste alla forte pressione di vendita su Binance Derivatives – breakout in arrivo?

Bitcoin (BTC) è rimasto bloccato in un range tra 100.000$ e 110.000$ dal 7 maggio, con alcune brevi discese fino...

clararosati 6 hours ago
Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum has finally pushed above the critical $2,600 level after weeks of range-bound trading, marking a potential turning point in...

Sebastian Villafuerte 6 hours ago

SPX6900 pārspēj 100 gadu S&P 500 pieaugumu tikai 2 gados – TOKEN6900 pārspēj abus, jo ICO sasniedz $260 000 9 dienās.

S&P 500 indeksam bija nepieciešams gandrīz vesels gadsimts, lai sasniegtu kopējo atdevi virs 1 700 000% – un tas tikai...

lasma 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin

Is Dogecoin Prepping For Takeoff? Fib Reaction And Trend Support Say Yes

Godspower Owie 2 hours ago
Bitcoin Hyper $HYPER presale meme coin

Bitcoin Hyper je dosegel mejnik 2 milijona dolarjev

tanjapotocnik 4 hours ago
bitunix platforma s tradingview

Bitunix zavádí nástroje TradingView do své mobilní aplikace, co vše nabídne?

Lenka Hanzlíková 5 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール|次世代ビットコイン拡張プロジェクトが200万ドル目前、投資家が続々と参加中

    ...

    5 hours ago
  • 仮想通貨おすすめ|ビットコインが過去最高値に迫る中、ETFが70万トークンを保有

    ...

    5 hours ago
  • 新しい仮想通貨が160万ドルを調達──過剰な宣伝を避ける注目のミーム系ボット登場

    ...

    5 hours ago
  • 仮想通貨おすすめ|ビットコインが10万8,000ドル突破、2025年7月に注目の17銘柄

    ...

    5 hours ago
  • MEXC Launchpad Debuts PUMP Token with Exclusive 40%...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.