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Increased volatility is cited as one of the reasons why many retail investors are avoiding the digital asset segment. However, Bybit CEO Ben Zhou is positive about the current situation in the crypto industry.
During a conference in Singapore, the entrepreneur noted that he sees the current uncertainty in the market as a potential opportunity to scale up his company. According to Zhou, the global market is under some pressure in light of the unstable macroeconomic environment. However, the crypto industry has nothing to fear, as uncontrolled inflation, rising refinancing rates and printing huge money supply all highlight the weakness of traditional finance, summed up the head of Bybit.
Many experts agree that Peng Zhou definitely has reason to be optimistic, especially given the situation around the British pound. The currency continues to rapidly lose ground against the background of the easing of the monetary policy of the Central Bank of England and relaxations in the framework of tax legislation. In light of these developments, investors are increasingly investing in cryptocurrencies.
This confirms the theory that digital assets can act as a tool for risk diversification.
Earlier, the editors of Crypto.ru informed: the flagship of the crypto market in terms of profitability was ahead of many fiat currencies. Now it is second only to the US dollar, which is not surprising given the aggressive monetary policy of the Fed and the systematic increase in the refinancing rate in the US. Over the past seven days, Bitcoin has strengthened against the USD by 6.3% and looks quite stable. Representatives from Fortune spoke about this in their recent report.
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