The world’s largest crypto exchange Binance CEO Changpeng Zhao (CZ) has a statement today for those who target Bitcoin BTC. He took a stand against speculative and misleading headlines suggesting that Bitcoin is in a bubble. CZ criticizes these headlines in a recent Twitter post. He also highlights the need for a more accurate view of Bitcoin’s value.
Opposing misleading rhetoric for Bitcoin
CZ, especially in times of sudden decreases in BTC prices, was quoted in various news sources as “Is the Bitcoin Bubble About to Burst?” He referred to an article entitled “Here we go again,” he expressed his disappointment at these repetitive narratives. Such headlines have become a recurring theme in the cryptocurrency space. It usually occurs after Bitcoin BTC experiences price fluctuations.
https://twitter.com/cz_binance/status/1692938658330849281
CZ also questioned the disappearance of these headlines following the BTC price recovery. Interestingly, there is a belief in the cryptocurrency market that news announcing a “bubble burst” may actually indicate that the price of Bitcoin BTC has bottomed out. CZ’s statements imply this point of view. Accordingly, he argues, such news often serves as a counter-indicator.
Signal of market turning points
Changpeng Zhao’s comment illustrates the ongoing battle against sensational headlines. It also reflects the importance of approaching Bitcoin’s price movements from a balanced perspective. In the cryptocurrency market, there are alarming news about the Bitcoin bubble. These are seen by some as potential indicators of market turning points. On the other hand, it adds an interesting dimension to the ongoing discussion.
While the Binance CEO’s views on Bitcoin are like this, there are also important evaluations from Tom LEE. Tom Lee of Fundstrat Global Advisors shared a forecast for the price of Bitcoin. Lee believes that the approval of a spot Bitcoin exchange-traded fund (ETF) in the United States could push the price of classic crypto above $150,000.
Will Bitcoin reach the $180,000 tag?
Fundstrat co-founder Tom Lee sings the song of Bitcoin once again. This time, the leader is announcing that BTC can rise above $150,000 by the end of 2024.
Speaking during an interview with CNBC’s Squawk Box, Lee suggested that a series of Bitcoin spot ETF approvals will shift Bitcoin’s supply-demand dynamics towards a significant price increase. He thinks that the SEC’s approval of these sought-after investment vehicles will bring Bitcoin to $150,000. When we look at Kriptokoin.com, it states that the price will come to $ 180,000 afterward.
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