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I Will Not Let Bitcoin (BTC) Price Go to Zero: CZ Binance

News
Tue, 03/17/2020 - 08:01
Yuri Molchan
As Bitcoin remains low in the $5,000 area and the coronavirus spreads wider, the head of Binance, CZ, states he will not let Bitcoin drop to zero, on one condition
Cover image via www.youtube.com
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Last week, on March 12, the major cryptocurrency Bitcoin suddenly plummeted along with traditional financial markets and the fool-proof safe-haven – gold. Since then, the Bitcoin price has already made a brief visit below $5,000.

Many crypto influencers have been sharing their take and predictions. However, no one has yet promised to take any particular action to help keep Bitcoin afloat. The chief executive of Binance, CZ, is the first.

‘So long as I have a penny, Bitcoin will not go to zero’

At the time of writing, Bitcoin is trading in the $5,200 area. Changpeng Zhao promises that Bitcoin will not go down to zero as long as he has funds.

What is CZ hinting at?

Some in the thread wrote that CZ's tweet has them worried. Traditionally, the crypto community believes that the BTC price could drop as a result of manipulation.

However, a study claims that back in 2017, when Bitcoin hit its peak price near the $20,000 level, it was manipulated using Tether's USDT stablecoin.

Earlier this year, CZ tweeted that crypto exchanges are not interested in the price of Bitcoin plummeting. He wrote that if crypto exchanges were able to impact the BTC price, it would be super high.

Related
Will Bitcoin (BTC) Survive Coronavirus Crisis? Here's What Billionaire Tim Draper Has to Say

‘Technically, Bitcoin is hungry for $6,100 right now’

The trader, ‘The Crypto Dog’, is bullish on Bitcoin at the moment, believing that the flagship currency is strong enough to soar and break through the $6,000 level.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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