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‘Careful What You Wish For’: Binance CEO Hints at Making XRP Base Currency, Again

  • Alex Morris
    📰 News

    Crypto Twitter is busy connecting the dots as XRP being a base currency on Binance is becoming a more plausible scenario


‘Careful What You Wish For’: Binance CEO Hints at Making XRP Base Currency, Again
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Binance CEO Changpeng Zhao has just made the Christmas mood of XRP fans a tad brighter by giving a solid hint at making XRP the exchange’s base currency. This is already the second innuendo, which makes an upcoming official announcement less far-fetched.  

Christmas wishes

Given that the cute market rebound wasn’t satisfying enough for crypto enthusiasts (especially in comparison to last year’s bull run), they have the right to ask for more. CZ has recently taken to Twitter in his Santa hat to hear some wishes from his followers. One of them asked whether the self-made crypto billionaire would buy him a Camaro or make XRP a base currency on Binance.

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CZ has made an intriguing reply: ‘Careful what you wish for’, which is a clear hint that the second option could definitely be a possibility (let’s be real, he’s not buying this random guy the Camaro).     

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It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst


It Could Take Bitcoin 22 Years to Retest Its ATH: UBS Analyst
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The fact that Bitcoin saw its price breaking above $5,000 at the beginning of April made everyone highly optimistic about the prospects of a full-fledged bull run. However, crypto bulls shouldn’t hold their breath since it could take decades for the number one currency to recover from its epic downfall.

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Bitcoin compared to other bubbles  

After comparing Bitcoin to other bubbles, UBS analyst Kevin Dennean came to a conclusion that BTC will most likely follow their lead, Business Insider reports.
However, here’s a catch – Bitcoin will have to undergo a long-lasting recovery, so it is not reasonable to expect another bull run in the nearest future. For comparison, it took the Dow Jones Industrials 22 years to reach its previous peak.   


‘We're struck by how long it took other asset bubbles to recover their peak levels (as long as 22 years for the Dow Jones Industrials) and how pedestrian the annualized returns from trough to the recovery often are,’ Dennean claims.

Bitcoin compared to other bubbles  

Picture: ©FactSet

With that being said, it is still not guaranteed that a certain bubble retests its ATH even after decades since a big burst. Nikkei, despite reaching its 20-year highs in October 2017, was still 50 percent lower than its ATH that was recorded in 1989.

Nikkei

Picture: ©ATLAS

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When you lose, you win

During the peak of the crypto market, Bitcoin was frequently compared to the infamous tulip mania, but these two barely had anything in common (except for the horrible stability of value). Hence, it hardly makes sense to apply a certain pattern and expect Bitcoin to behave in a similar fashion to other bubbles.

Historically, enormous price crashes actually benefited Bitcoin. As reported by U.Today, Bitcoin trader recently noticed that the BTC price rise 5.1-16.89 times every 70+ percent plunge. Crypto bulls have every reason to expect a similar outcome this time around.

'Shadow of bull statue on texture tiles floor metaphor of bull market is coming for stock market or investment asset' image by 123rf.

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