Changpeng Zhao: Bitcoin Price Correction Occurs Every Year

The Binance CEO defends bitcoin from a flurry of criticisms amid its current downward spiral.

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ChangPeng Zhao | Photo from Bitcoinist

Bitcoin value is once again going down. Those new to the industry may be in a world of FUD but experts like Binance CEO ChangPeng Zhao know that this dip is just like every other dip the cryptocurrency has had since its rise to fame in 2011.

Zhao took to Twitter to explain that this kind of market dip happens practically every year with matching graphs to illustrate his point:

John McAfee also took to Twitter and backed up Zhao’s point, also calling Zhao a major influencer in the crypto space:

Basically, what Zhao is trying to say is that there is nothing unusual about the price dip that bitcoin is experiencing now. There’s no need to panic or and overanalyze what negative events could have possibly triggered the negative trend.

In December of 2017, bitcoin hit its all-time high of $20,000, dipped, and rose back again. If anything, we may even be expecting a new all-time high given this pattern.

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