Binance, the world’s largest cryptocurrency exchange, recently made a management change and signed the most significant change in its management level in recent years.
Binance has appointed a second CEO, co-founder Yi He, to this position. This marks the appointment of co-founder Yi He as co-CEO alongside current CEO Richard Teng.
While this move is considered the biggest leadership reshuffle since Changpeng Zhao (CZ) left his position as CEO two years ago, important Bitcoin (BTC) announcements came from new co-CEO Yi He.
Speaking to Chinese journalist Wu Blockchain, Yi He said that it is now unlikely that BTC will see the sharp declines of past cycles.
Binance co-CEO Yi He stated that Bitcoin may not experience the sharp declines seen in previous market cycles as it transitions from a niche asset to a mainstream one.
He noted that while some countries are planning to seize and sell Bitcoin, many other countries, pension funds and institutional investors have started investing.
At this point, Yi He argued that this trend indicates that Bitcoin’s volatility and downside risk will be lower than in the past.
“Bitcoin is no longer an asset that moves in a small pool. Bitcoin itself is the most decentralized crypto asset.
“As sovereign wealth funds and institutions include BTC as a core asset, the likelihood of Bitcoin experiencing a rapid price crash is lower than in previous cycles.”
The Binance co-CEO added that traditional halving cycle theories will now work differently, making old trading strategies less effective in a market with new participants.
Yi He emphasized that he did not completely reject the halving cycle theory, but its period, operation and scale had changed.
Yi He also added that these statements were his personal opinions and should not be considered investment advice.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/important-bitcoin-btc-statements-made-by-yi-he-newly-appointed-co-ceo-of-binance/
