“Bitcoin (BTC) is dead”. This idea was quickly carried out in the range of investors, a few weeks ago, in the period when cryptocurrency prices were very low. In this context, which was relatively difficult, many investors nevertheless managed to generate significant income. So claimed CZ, the CEO of Binance.
The collapse is not at the rendezvous
According to Binance CEO Changpeng Zhao, when in everyone’s mind, “bitcoin is dead”, the king of cryptocurrencies is doing great things. In a post on Twitter, he claimed that this perception that many people had for a certain period of time helped to scare away investors who had no confidence in the digital asset. Somehow there was a market cleansingnow become the place for real investors confident in the future of BTC.
“Historically speaking, if you bought bitcoin every time there were ‘bitcoin is dead’ headlines, you would have done well. Logic: when they lose hope, that’s where the bottom is,” writes CZ. The CEO said he does not support the idea that the bitcoin (BTC) will crash and “will die”.
$20,000 is BTC’s new $30,000
Currently, the king of cryptocurrencies is trading at around $20,440be one 15% increase from its June 18 level ($17,708). Many and investors in cryptocurrency companies have acknowledged that they are taking advantage of this period to buy BTC and store it, while hoping that its value will resume a bullish direction soon.
What are the hopes for the future? Among the ranks of professionals, it is still difficult to define exactly the direction that the king of cryptocurrencies will take in the days to come. That said, for Peter Schiff, it is important that investors do not rejoice when BTC will go back above $20,000. According to him, “$20,000 is the new cryptocurrency $30,000.”
Mr. Schiff also stated that it is very likely that in the future there will be small increases. However, these price increases should not be the reason for investors to return to the king of cryptocurrencies.
Is bitcoin (BTC) more commendable when investors are scared? The answer to this question is “yes” according to Binance CEO. He believes that it’s when everyone thinks “bitcoin is dead” that the king of cryptocurrencies reveals its full power.
Source: BTC News
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