CZ is confident that altcoin rally will see “stronger projects” rise

CZ is confident that altcoin rally will see “stronger projects” rise

Tuesday, July 9, 2019, 3:40 PM

After an extended crypto winter followed by Bitcoin’s price rallies, many traders are wondering when the next altcoin season will begin. The prevailing theory as to its delay has to do with the growing interest in initial exchange offerings (IEOs).

Speaking to CNBC’s Crypto Trader host, Ran NeuNer, Binance chief executive, Changpeng “CZ” Zhao has also been wondering when the next altcoin rally will happen and revealed he’s “pretty confident” we will see one sooner or later. Additionally, he’s bullish that the upcoming rally will be far more stable now than it was in 2017, which will pave the way for stronger projects.

CZ says that the only companies still alive from the 2017 ICO mania are those who have actually developed legitimate projects. As such, this bull run will be far more selective, focusing on tokens that have real-world use cases.

“The industry is evolving and we are now seeing real projects with real blockchains coming out,” he says.

Recently, BitMEX CEO Arthur Hayes and American economist Nouriel Roubini debated at the “Tangle in Taipei.” The debate ended with Roubini accusing Hayes of not releasing the unedited video of the debate and has now escalated to Roubini threatening to sue Hayes.