The head of cryptocurrency exchange Binance Changpeng Zhao (CZ) in a recent interview BLOCKTV, a televised news source for the blockchain and cryptocurrency community, said that bitcoin price will likely increase after the halving.
CZ highlighted that historically halving has been always triggering a great supply/demand imbalance. In addition to that, Binance CEO believes the halving effect has not been yet priced in.
"Humans take a lot of time to let concepts sink in," CZ added.
CZ admitted that the price of bitcoin has indeed risen after the two previous halvings. Moreover, Binance CEO believes that the upcoming event will primarily have "a psychological effect" on cryptocurrency miners, as in the short term the cost of producing cryptocurrencies will double and miners will be forced to sell their assets. This, according to CZ, will also positively affect the price.
Earlier iHodl reported that Binance suspended its operations to carry out unscheduled system maintenance.
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