NewsletterHere’s When Binance CEO “CZ” Thinks Bitcoin Could Bottom Out
At a time when crypto analysts and Bitcoin evangelists are trying to predict a bottom, Binance CEO “CZ” has come up with his opinion on Bitcoin’s bottom. He believes Bitcoin (BTC) bottoms out when there are “bitcoin is dead” headlines. So, historically anyone who bought Bitcoin when there was such a sentiment made the most profits, he said.
Bitcoin price has corrected nearly 70% since its all time high in November. In recent times, Fed’s interest rate hike, the DeFi collapse, and the liquidity crisis have caused the BTC price to plummet below the $20,000 level.
Binance CEO “CZ” Explains Bitcoin Bottom Trend
Binance CEO “CZ” in a tweet on June 20 said anyone who bought Bitcoin during the general sentiment of “bitcoin is dead” made better returns on investment. Moreover, when people lose hope of a Bitcoin (BTC) rebound is the actual bottom. Bitcoin at these levels is the perfect buy-the-dip opportunity.
“Historically speaking, if you bought Bitcoin every time there is a “bitcoin is dead” headlines, you would have done well. Logic: when they lose hope, that’s when the bottom is in.”
However, the Binance CEO also warned that he was not recommending this or any strategy for the future. In fact, when the Bitcoin price was trading above the $65,000 level, many thought the Bitcoin bubble would burst. Historically, there have been speculative bubbles in 2011, 2013, 2017, and 2021-22.
Currently, Bitcoin price is trading up nearly 15% at $19,986, since a fall to $17,708 on June 18.
In fact, several crypto investors and companies including Digital Currency Group had confirmed that they are buying Bitcoin at the dip.
Binance Announces the BNB Smart Chain Network Upgrade
As the crypto market continues to be in FUD, Binance has announced support for the BNB Smart Chain (BEP20) Euler network upgrade and hard fork. The upgrade is scheduled for June 22 at 08:00 UTC to keep making blocks, and introduce features and bug fixes.
Deposits and withdrawals will be suspended on the BNB Smart Chain (BEP20) network, Binance informed. However, the trading of tokens on the BNB Smart Chain (BEP20) network will not be affected.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitwise Multi-Crypto ETF Featuring Bitcoin, Ethereum, XRP, Solana, Cardano Goes Live
- Standard Chartered Lowers Bitcoin Year-End Target to $100K Amid Crypto Sell-Off
- Breaking: USDC Issuer Circle Taps Into Privacy Trend with USDCx Launch on Aleo
- Breaking: $500B PNC Becomes First Major U.S. Bank to Offer Bitcoin Trading Via Coinbase
- Trump Says Next Fed Chair Must Immediately Cut Rates as Crypto Traders Bet on 2026 Cuts
- Bitcoin Price Alarming Patterns Point to a Dive to $80k After FOMC Decision
- Pi Network Price Could Surge to 15%, But Watch Out for This
- Cardano Price Prediction – Analyst Eyes 56% Rally as Taker Buy Dominance Strengthens
- Ethereum Price Eyes $4000 as Whales Opens $426M ETH in Longs
- How High Can Zcash (ZEC) Price Go?
- Solana Price Set for $150+ as Bullish Sentiment Rises in Crypto Market
