Head of Binance: key events on the cryptocurrency market and forecast for 2020

The year 2019 was rich in events: the rapid rise of bitcoin prices, the fall of altcoins, scams, hacks, evencentral bank statementsown digital currencies. In a few days, we will enter a new decade that will bring us even more events. The adoption of cryptocurrencies has moved from retail to institutional institutions and even government agencies.

The CEO of the largest cryptocurrency exchange Binance, Changpeng Zhao, believes that in 2020, more and more countries will come to the world of cryptocurrencies and blockchain.

In the new edition of Community Forecasts for 2020year” from Global Coin Research, Zhao answers a question about his “adoption expectations”, where he pointed to those who, in his opinion, will be able to solve the issue of mass adoption. These are the governments of the countries.

"There are a growing number of governments around the worldexploring blockchain, cryptocurrencies, stablecoins, and self-regulatory and global regulatory standards that indicate greater societal acceptance of these technologies.”

Some states come to understand crypto andagree with the idea of ​​digital currencies, at least in the form of stablecoins. So, in July, China announced to the world that the digital yuan had been under development for more than a year, and began to accelerate its development work along with other competitors in the field of private stablecoins, which are under the scrutiny of regulators.

New President of the European Central Bank(ECB) voiced the idea of ​​creating a digital euro. The ECB recently published a report analyzing the importance of anonymity and private transactions when introducing digital currency from a central bank. Other countries have also proposed linking their national currencies to digital in order to be able to use both types.

Optimistic about the future, Zhao added thatover the next year, states will conduct “different experiments”, and regardless of the result, this will have a positive impact on the adoption of cryptocurrencies.

According to the CEO of Binance,distributed registry technology has a big impact on the development of the internet. As the crypto and blockchain industry develops, the prices of individual cryptocurrencies will increase.

In conclusion, he added that cryptocurrencies are increasingly attracting institutional investors, and all signs indicate that "in 2020 there will be a bull market."

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