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CZ, Binance CEO puts Bitcoin [BTC] prices in perspective!

Abhishek Anil

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CZ, Binance CEO puts Bitcoin [BTC] prices in perspective!
Source: Maxpixel

Bitcoin [BTC] prices have caused plenty of debates and discussions among cryptocurrency users and enthusiasts. To put in perspective, the Bitcoin [BTC] exchange rate was established by new liberty standard that established the value of Bitcoin at US $1=1 BTC in February 2011. It soon began breaking records, breaking transaction volume records surpassing Western Union [WU] to Virgin Galactic accepting Bitcoin [BTC] for space travel to hitting $10,000 for the very first time on November 2017 and doubling to $20,000 on December 2017.

But Bitcoin’s dream run seems to have slowed down as the values have dropped below $7,000. Users have found the Bitcoin prices varying closely to the dreaded death cross. A death cross is a point in a stock’s lifetime where the 50-day moving average crosses below 200-day moving average.

Amidst this, CZ, CEO of Binance tweeted earlier:

CZ's recent Tweet

CZ’s recent Tweet

CZ goes on to say that the news is extremely cherry-picked and that only the $20,000 on December 17th, 2017 price is remembered by all and none of the other Bitcoin hikes.

Paul Lindsay, a cryptocurrency investor says:

“You are really good for cryptocurrency. We need more leaders like you in this space.”

Another Twitter user commented:

“Nice chart for a faithful believer in the crypto-Blockchain industry! Forget about the cherry picking!”

Many other influencers have also supported Bitcoin’s price history and stated:

Jim Iuorio of TJM Institutional Services commented:

“When we are talking about bitcoin…I think it’s important to remember that we don’t have much history to go off of to identify long-term trends”

He continued by saying:



“That being said… any time the 50-day crosses the 200-day, it should flash a warning… & when you couple that with the fact that bitcoin has been trending steadily lower since the launch of futures… I think that it is a major negative.”

Hunter Horsley says:

“…historically most of BTCs annual return was delivered over just 9 days (avg) out of the year. Hard to know which days will be drivers. A merit of HODLing.”

John MaAfee says:

“Where is Bitcoin headed? Personally, I am certain. My bet is still on.”





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Bitcoin

Bitcoin [BTC] is still going to $100,000, claims Heisenberg Capital’s Max Keiser

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'Bitcoin is still going to $100,000', says Max Keiser
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CNBC’s Crypto Trader Ran NeuNer, spoke to Max Keiser, Co-founder of Heisenberg Capital on the sidelines of the Magical Crypto Conference and discussed Bitcoin’s current trends.

Keiser said that he was bullish on Bitcoin in the long term, adding that he would be sticking by his “$100,000” prediction for Bitcoin. He stated,

“I never stopped make price prediction… I said it [Bitcoin] was going to a hundred thousand dollars and it was only a dollar and I said that all publicly… it is still going to a hundred thousand dollars”

He added that the timing of when Bitcoin would reach the mark was not important, but that it would outperform every other asset over the next 15 years. Additionally, he said that timing was only for people who were waiting to buy crypto at a better price and “that is a bad way to approach crypto.”

Keiser displayed his enthusiasm for crypto, commenting that, “Stack Satoshis… Stack SATs… you should be stacking SATs.” Giving his opinion on Bitcoin’s recent rally, Keiser said,



“I think that it goes back to when Federal Reserve issued a statement saying that they’re moving the policy to permanent quantitative easing… which means money printing without end. As you know Bitcoin is hard money, like gold, and it is going to respond well to hyperinflation and hyper-money printing.”

Further, Keiser claimed that Bitcoin bottomed when the Federal Reserve announced this a few weeks ago and that this was due to a couple of reasons. The first being Bitcoin’s upcoming halving which highlights the scarcity of Bitcoin. According to Keiser, the second reason was that the sellers were exhausted. All the above reasons, in totality, contributed to Bitcoin’s price rise, claimed Keiser.

Since Bitcoin has already proven itself as a store of value, Keiser remarked that it would be best to concentrate on Lightning Network, a layer-two scalability solution for Bitcoin and improve it as a medium of exchange.





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