While the decline in global markets also hits Bitcoin and altcoins, investors continue to be uneasy.

At this point, while many names were evaluating the sharp decline, a comment came from Binance CEO Richared Teng.

Stating that the recent decline in the Bitcoin and crypto market is due to macroeconomic factors, Binance CEO underlined that this decline is not long-term.

“The recent sharp declines in cryptocurrency and stock prices are affected by macroeconomic factors. We do not think this decline is long-term.

Significant market fluctuations are likely to continue due to possible interest rate cuts by the FED and geopolitical fluctuations.

Always be sure to stay informed. Keep building!”

Recent sharp drops in crypto & equity prices are influenced by macroeconomic factors. We do NOT believe it’s indicative of a long-term negative trend.

With potential Fed rate cuts & geopolitical volatility, there’s still significant potential for market fluctuations.

Reminder…

— Richard Teng (@_RichardTeng) August 5, 2024

*This is not investment advice.