Binance Co-Founder and CEO Comments on the Current Bitcoin Bear Market
Over the past few weeks, Changpeng Zhao (“CZ”), Co-Founder and CEO of Binance, the world’s largest crypto exchange by trading volume, has commented on several occasions about the price of Bitcoin, while always making it clear that he is not offering any kind of financial, investment, or trading advice.
Here are a few of CZ’s most interesting tweets on this topic (in reverse chronological order):
I am most bullish in bear markets. 😂— CZ 🔶 Binance (@cz_binance) June 23, 2022
$BTC Price On This Day – Jun 21, 2022— CZ 🔶 Binance (@cz_binance) June 21, 2022
1 yr. ago: $31,677
2 yr. ago: $9,304
3 yr. ago: $10,145
4 yr. ago: $6,730
5 yr. ago: $2,689
6 yr. ago: $667
7 yr. ago: $244
8 yr. ago: $595
9 yr. ago: $110 https://t.co/nyxzSVbFmU
Historically speaking, if you bought #bitcoin every time there is a "bitcoin is dead" headlines, you would have done well.— CZ 🔶 Binance (@cz_binance) June 19, 2022
Logic: when they lose hope, that's when the bottom is in.
NFA. NOT recommending this or any strategy for the future. https://t.co/GMAS446FVI
Just data. Not emotions. https://t.co/Vb3pkKBJuc— CZ 🔶 Binance (@cz_binance) June 18, 2022
Q: CZ, how do you see this market?— CZ 🔶 Binance (@cz_binance) June 18, 2022
I dunno. It's my 3rd cycle.
2013 ATH $1k, then low of $200 for a year.
2017 ATH $20k, then low of $3k for a year.
2021 ATH $68k, low of $20k…
I am not a good TA, but do you see a trend?
In an interview published in Fortune on June 16, CZ had this to say about the crypto bear market:
“We do not need to raise money… Based on my knowledge, we have a much larger budget than anybody else in the industry… Although it is painful for a lot of people, it weeds out the weak projects, and only the strong ones stay. Everyone who lasts, who survives, will be stronger.“