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Bitcoin Price in Perspective by CZ from Binance

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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 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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Abhishek Anil

Abhishek Anil

A Runner by Heart, A boxer by passion and Cyclist by instinct.

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