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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • 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: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

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

Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

Dex Volume Hits Over $1T in August: Why Best Wallet Token Stands To Gain

The decentralized exchange (DEX) market has just reached a historic milestone, with over $1.15 trillion in volume processed during August....

Aaron Walker 4 hours ago

Top 3 kryptomeny na investovanie v septembri 2025

Začiatok jesene prináša na kryptomenový trh novú dynamiku. Kým Bitcoin sa obchoduje okolo hranice 110 000 dolárov a Ethereum atakuje...

Nina Šefčíková 4 hours ago
Ethereum Demand Spikes As Whales Add 260K ETH In 24 Hours

Ethereum Demand Spikes As Whales Add 260K ETH In 24 Hours

Ethereum is facing a pivotal moment as it struggles to hold above the $4,400 level after several days of heavy...

Sebastian Villafuerte 5 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

Bitcoin

Metaplanet Becomes A Global Bitcoin Powerhouse with 20,000 BTC Hoard, More Buys Ahead?

Godspower Owie 17 minutes ago
dogecoin_doge_dogeusd_5_optimized

Dogecoin Price Set For Explosive Rally If This Structure Holds

Sandra White 1 hour ago
Ethereum

Ethereum Price Stuck In ‘Loading Phase’, What This Means For The Campaign For $5,000

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • ビットコイン...

    9 minutes ago
  • シバコイン 今後の行方

    シバコイン...

    22 minutes ago
  • パイネットワーク...

    32 minutes ago
  • 1 najbolja kriptovaluta za kupiti prije nego što poraste za 3.536%, prema Cathie Wood (ARK Invest)

    1 najbolja kriptovaluta za kupiti prije nego što poraste...

    2 hours ago
  • XRP From Market Volatility to Stable Passive Growth: ALL4...

    2 hours ago

Newsletter

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.