Binance CEO CZ Addresses His Failed Bitcoin (BTC) Price Predictions

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Fri, 03/20/2020 - 06:08
Alex Dovbnya
CZ is not going to make bearish price predictions no matter how much you fume about this tweets
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Contents

Changpeng Zhao, the CEO of Binance, often faces criticism because of his bullish price predictions. Some even go as far as counter-trading them. 

However, CZ doesn't shy away from his tweets, claiming that one can 'easily' find all upticks that correlate with his bullish calls.  

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Skin in the game 

Some of CZ's predictions came at the worst possible time. He tweeted that BTC wouldn't 'hang around' below $9,000 right one week before the top cryptocurrency plunged 48 percent in one day. In November, he claimed that BTC could skyrocket to $16,000, but that also was incredibly inaccurate.         

However, CZ is a staunch permabull, which is why you should never expect him to post bearish forecasts. Being a bear doesn't make any sense for someone who is at the helm of one of the largest cryptocurrency exchanges. 

The Binance CEO once said that the BTC price could be 'super high' if exchanges could manipulate it.  

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All-in on Bitcoin 

CZ famously sold his house Shanghai to make a huge BTC bet, which eventually paid off. He went from flipping burgers at McDonald's to becoming a billionaire. However, unlike some other representatives of the Bitcoin nouveau riche, he doesn't own houses, boats, or even Lambos. 

In his new tweet, CZ confirms that he only has about $500 in fiat. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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