Binance CEO CZ Says This Year’s BTC Price Correction is Similar to 2014

 

While Bitcoin has been seeing a lot of downward momentum these past few days, veteran users are not worried and says it’s business as usual. Coming from a high of $20k earlier in the year, Bitcoin’s price decline to below $7k seems like the bubble has burst and many fear earlier all-time-highs will never be seen again.

Binance’s CEO, Changpeng Zhao (affectionately known as CZ) has took to Twitter to try to calm panic over the recent price drops. CZ reminds users that Bitcoin’s price was not flat before this year and the same price patterns continue to cycle every year.



While it is impossible to guess where Bitcoin’s price will be at the end of the year, many experts predict there will be a surge near the end of the year as usual, and prices may climb over $15k again. Historical evidence has shown these bearish patterns to be expected, but Bitcoin should be fine in the long run. 2018 has already been historical with financial regulators responding to crypto investors with more intent as well as the introduction of institutional investors entering the scene.



 

Related Posts

You may like these post too

5 Men Arrested in $1 Million Bitcoin Robbery Conspiracy

Blockstream’s Samson Mow Recent Interview on Bitmain and Bitcoin

winklevoss twins bitcoin

Winklevoss Twins Challenge JPMorgan CEO to Short BTC

steve bannon crypto

Former White House Chief Strategist Steve Bannon Says 90% of ICOs Are Failures

Korea’s Top Crypto Exchanges Bithumb and Coinone Raided By Police

mt gox kobayashi btc dump

Mt Gox Trustee Dumping Millions in Bitcoin