Published On: Tue, Jun 12th, 2018

Binance CEO: Bitcoin Price Drop is Business as Usual

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Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange by means of trading volumes, said that the recent decline in Bitcoin’s price is historically normal. 
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has reached recently reached its’ three-month low. At press time, Bitcoin was trading at $6,795.30 according to CoinMarketCap, which marks 6.38% decline in the last 24 hours.
Despite the price drop, the CEO of the largest cryptocurrency exchange remains calm, noting that there’s nothing abnormal about the current price correction.

Many people seems to think BTC price was flat before this year, as they appear to be on the graph. To the old timers, it’s the same pattern every year. Just the units on the left is different.
— CZ (@cz_binance) June 10, 2018

In his tweet, Zhao shared a few graphs which show significant similarities in the behavior of the world’s largest cryptocurrency. However, he also notes that despite these substantial price corrections, the key factor to account for is the substantial progress of Bitcoin’s price throughout the years, referring to the “units on the left& …

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