Binance CEO Changpeng Zhao commented on Bitcoin by sharing an article from The Economist. The CEO of Binance, which holds the title of the world’s largest crypto exchange, said that the critical signal has come for Bitcoin. According to him, the Economist article has the potential to herald a new bull market.
Binance CEO CZ: “Critical signal has arrived for Bitcoin”
Changpeng Zhao made a new post on his Twitter account, which is followed by millions of crypto investors. According to this post, a new bull market for Bitcoin is not far away. CZ’s tweet included an article from The Economist. This article is about “How does crypto go to zero?” had the title. Binance CEO interpreted this article as a kind of critical signal for the bull market. Bull markets are a period when the prices of cryptocurrencies see new highs. These periods come after bear markets and end with bear markets.
These type of article signal the _ _ _ _ _ _. pic.twitter.com/kDwXCwEJIF
— CZ 🔶 BNB (@cz_binance) December 7, 2022
Bear markets can be defined as a period when investors’ fear and sales peak and prices fall in the market. The cryptocurrency market has gone through many bear markets to date. So much so that we are in one of them right now. However, it is a fact that the mainstream media shares “Crypto is dying” in every bear market. This is because organizations mostly want to get the most out of the bull market. CZ seems to be aware of that too. The Economist’s article “How Crypto Goes to Zero” heralds that a bull market is imminent, according to him.
Bitcoin hasn’t died for 13 years
When you look at the content of such news outlets in the bear market, you will often see the message “it’s all over”. But 2021 changed that. Because in the bear market of 2021, many organizations finally realized that crypto was going nowhere. After this bear market, questions such as “How soon will Bitcoin rally?” started to gain importance. However, now, at the end of 2022, the question “Is crypto dying?” We noticed that the questions resurfaced. The reason for this was the massive bankruptcy of FTX, the second largest exchange in the field, at the beginning of November.
FTX’s bankruptcy has affected and continues to affect many projects. This naturally leads to the development of a state of uncertainty and fear for the future in investors. However, the crypto market has managed to survive major crashes such as the Terra (LUNA) crash. Therefore, it would be reasonable to say that the market will surely rise again one day. Binance CEO CZ is also aware of this. Changpeng Zhao said in his tweet, “These types of articles foreshadow …,” but left the word blank to describe what the articles were foreshadowing. It is perfectly reasonable to say that this is a new bull market.
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