CZ: We are seeing ATH in terms of system traffic. Higher than Dec 2017 - page 2.

Lordhermes

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Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

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The market had shown a great signal of comeback from the slums in last three weeks, actually we don't know what the future holds but great market analysts had highlighted the second all time to be in 2020.
Having a great traffic on ATH actually signifies a huge demand in it and its not a bad idea to implement new features causing that kind of traffic and that should be the main target to CZ in implementing some absent feature like what @bitsurfer2014 mentioned above especially number 7: Optional KYC

Tipstar

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There are a increased number of people buying and trading crypto. That doesn't necessarily mean more money coming in but certainly means the interest on crypto and it's adoption is on rise. The Binance too was not as much popular as it is now in 2017 and the increase in traffic could also be a binance specific thing. It's overall a time for ATH for last two years. And Its obvious that an exchange owner would like people to trade more, it's his job to keep hyping the market. Nothing wrong on that.

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Quote from: Kemarit on August 18, 2020, 05:57:40 AM

It is just me or someone has a feeling that CZ is somewhat sending a subliminal message with that tweet. LOL.

like always he sees a hype and uses it to advertise his business and make money.
as for the traffic, i would only believe it if i saw it with my own eyes. not to mention that even if it were true such traffic increase had nothing to do with bitcoin. it is all about the huge number of shitcoins they have listed on their platform which are now being dumped as investors pull out to come back to bitcoin that is increasing in value.

sheenshane

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This could might a source of hype to anyone who read this tweet and he is the most influential in crypto space, which has now given this statement and we know that this prediction might happen as what he predicted. Binance exchange it seems the most trader's choice because of their unique feature and good service. They had a good appeal in crypto community due to the trust they have gained.

Probably CZ was right, the most anticipated trend is the bullish trend and I believed in CZ statement that there will be a new ATH sooner or later. Binance will help the market on this way.

Harlot

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Changpeng Zhao is mixing up price prediction and his site's traffic as if it is correlated to one another and I know he is aware of it just to hype things up in the industry. With his expansion in everything especially the acquisition of coinmarketcap this might be the cause of them having more traffic right not as compared to 2017, it doesn't mean that this increased in site visitors will be all translated into a demand that can trigger a bull run. CZ just tweeted this like I said to hype up the market and connecting to things hoping that the rest will think the same.

yazher

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In most cases, this is because of the more popularity and more good news we see about BTC nowadays from implementing adoption and lifting the banned from the other countries. All of that happening was only this year (2020) which may sound a bit awkward but it's the reality. Although we see some messed up with the other industries in the world, we saw that the crypto industry is flourishing. Now we will see in this upcoming last quarter of the year if there will be other good news to come. That will make it to the bull run in the next year. If there will be no big changes in the market this year caused by negative events.

Anonylz

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If cz claims they are experiencing an ATH in terms of system traffic I believe him, we may not see it but I believe in every newbie in crypto the first thing they do is open an exchange account and knowing binance for it's popularity and user friendly interface it is very easy to recommend, plus I think lots of people now realize crypto as a second alternative in terms of investment thanks to the pandemic, despite the rocky start of 2020, I think the end will be satisfactory.

rodskee

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Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

As per CZ's tweet.

https://twitter.com/cz_binance/status/1295391650554867713?

It seems that we are somewhat along the beginning of the market bull run, comparable to 2017 as per CZ. Definitely a sign of things to come. Needless to say, this 2020 will end in a bang, but a new all time high will more likely hit 2021-2022. So hang on to your BTC.

The big chance to see more to come in the next following years, if the patterns still the
same after the halving season happened.
The market seem to be more matured now and not just speculative but there are more
investors now who understand the concepts.
Much deeper knowledge much better support that it will bring to this industry, expect more
good things to come inside this market.

btc_angela

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Quote from: Kemarit on August 18, 2020, 05:57:40 AM

It is just me or someone has a feeling that CZ is somewhat sending a subliminal message with that tweet. LOL.

Well he needs to, bitcoin or crypto in general is what built Binance and with the market being bullish, he needs more traders in his platform, win-win situation for him.

Quote from: Oasisman on August 18, 2020, 06:09:00 AM

It seems like everyone in Twitter is very bullish nowadays.
More system traffic in a trading platform means bullrun? I doubt that. I'll consider a bullrun If a lot of people were buying Bitcoin and store it in their wallets than an actual rise in number of traders. Of course with the whales doing massive buy outs as well.
Nevertheless, Btc seems in a bullish motion.

Not just in Twitter, but everything crypto related is bullish just look at the supposedly fear and greed index. It's mostly, "Extreme Greed", lol.

https://alternative.me/crypto/fear-and-greed-index/

Oasisman

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Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

~snip~

It seems like everyone in Twitter is very bullish nowadays.
More system traffic in a trading platform means bullrun? I doubt that. I'll consider a bullrun If a lot of people were buying Bitcoin and store it in their wallets than an actual rise in number of traders. Of course with the whales doing massive buy outs as well.
Nevertheless, Btc seems in a bullish motion.

Quote from: Kemarit on August 18, 2020, 05:57:40 AM

It is just me or someone has a feeling that CZ is somewhat sending a subliminal message with that tweet. LOL.

Just as I also thought. This is like encouraging more traders to engage with their platform because Btc and alts are heading to an upward movements to a potential bullrun.

Kemarit

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It is just me or someone has a feeling that CZ is somewhat sending a subliminal message with that tweet. LOL.

Will be interesting to see the breakdown of numbers though, specially coming from exchange as big as Binance. Where is the traffic coming from? how many "new" traders are signing and making at least one trade? I remember when Binance started their exchange in 2017, newly launch prior to the break out run. They need to shutdown their site because of the enormous numbers of sign-up and their system has been overload.

gentlemand

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How big were Binance at the end of 2017? They were still pretty new then.

I can imagine there may be bursts that are bigger than then and then it'll fall back. There'll be more people lurking who are inspired to join in with brief runs.

If there's to be a proper bubble type thing I'm curious to see how the main platforms will cope. They could have multiple times more strain and not many will keep the people and resources in reserve when things are dead just in case it happens.

I remember Cryptopia moaning about going from 30,000 users to over 1 million in a few weeks. You don't magic up competent employees and better back end out of nowhere, and not in a few weeks either.

mk4

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Disclaimer to those who are too excited: High website traffic doesn't automatically mean that there will be a new all-time high. It could just potentially mean that there are more traders today than before(both actual traders and bots that use the API).

bitsurfer2014

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This is not a surprise at all since Binance is one of the top exchanges in terms of daily volume and I guess there are many factors that contributed to this ATH in system traffic and some of them are the following:

1. user friendly interface / ease of use.
2. high volume trades
3. high liquidity
4. good security infrastructure
5. good community relations
6. good customer support / service
7. optional KYC requirement

These I think are just some of the reasons why a trader would prefer Binance over other exchanges thus enabling growth in customer base over the past years.

fiulpro

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Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

As per CZ's tweet.

https://twitter.com/cz_binance/status/1295391650554867713?

It seems that we are somewhat along the beginning of the market bull run, comparable to 2017 as per CZ. Definitely a sign of things to come. Needless to say, this 2020 will end in a bang, but a new all time high will more likely hit 2021-2022. So hang on to your BTC.

Not only that since the last few months we have seen how the BTC is climbing , resistance is bound to happen but I do believe it's an easy factor , right now people can buy and wait for the bull run to come .
Also with the Bitcoins being tokenized there have been trading faster than ever between the ERC20 and BTC , incoming support is not just from Bitcoin holders but from the holders of the Etherum too.

Quote from: DdmrDdmr on August 18, 2020, 04:58:12 AM

We won’t see it, but it would be interesting to see an evolutionary breakdown of this ATH traffic by concepts such as unique IPs and geographical areas of origin. The former would go towards discarding trading bots being behind (or at least, narrowing down their influence in the numbers). The latter is interesting per se.

Most of the sites have concept of excluding the bots from even reaching the platform and when they see suspicious activity they general block it and at the same time there have been new updates where even VPN is blocked from many , therefore I do think when it comes to trading bots they are already having a hard time.

Quote from: samuraijin on August 18, 2020, 04:48:35 AM

Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

As per CZ's tweet.

https://twitter.com/cz_binance/status/1295391650554867713?

It seems that we are somewhat along the beginning of the market bull run, comparable to 2017 as per CZ. Definitely a sign of things to come. Needless to say, this 2020 will end in a bang, but a new all time high will more likely hit 2021-2022. So hang on to your BTC.

I believe he is not talking nonsense, which means a lot of interest from new people coming to the crypto market now, maybe because people put their money in a pandemic like this because of Covid-19, so people would rather invest their money in bitcoin than in gold , looks like it will explode in the next year, I will continue to hold it in my wallet

Support is not just from Bitcoin holders but it's also from :
Etherum holders ( due to tokens )
Gold holders (Because of the recent surge in gold prices)
People with excess stimulus bill waiting to be Invested ( In Japan people are doing that)

Many more ...

DdmrDdmr

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We won’t see it, but it would be interesting to see an evolutionary breakdown of this ATH traffic by concepts such as unique IPs and geographical areas of origin. The former would go towards discarding trading bots being behind (or at least, narrowing down their influence in the numbers). The latter is interesting per se.

samuraijin

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Quote from: cryptomaniac_xxx on August 18, 2020, 04:17:25 AM

As per CZ's tweet.

https://twitter.com/cz_binance/status/1295391650554867713?

It seems that we are somewhat along the beginning of the market bull run, comparable to 2017 as per CZ. Definitely a sign of things to come. Needless to say, this 2020 will end in a bang, but a new all time high will more likely hit 2021-2022. So hang on to your BTC.

I believe he is not talking nonsense, which means a lot of interest from new people coming to the crypto market now, maybe because people put their money in a pandemic like this because of Covid-19, so people would rather invest their money in bitcoin than in gold , looks like it will explode in the next year, I will continue to hold it in my wallet

cryptomaniac_xxx

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As per CZ's tweet.

https://twitter.com/cz_binance/status/1295391650554867713?

It seems that we are somewhat along the beginning of the market bull run, comparable to 2017 as per CZ. Definitely a sign of things to come. Needless to say, this 2020 will end in a bang, but a new all time high will more likely hit 2021-2022. So hang on to your BTC.

Topic: CZ: We are seeing ATH in terms of system traffic. Higher than Dec 2017 - page 2. (Read 348 times)