CZ Cautions About Declining Bitcoin Prices: Don’t Regret Missing the Bottom

Bitcoin hits a new two-week low at $22,300, causing concern among investors, and market experts are trying to identify the reasons for the decline. On Twitter, Changpeng Zhao, the CEO of Binance, shared his thoughts on the matter with two posts.

In the first post, he didn’t comment on the drop in Bitcoin’s price. However, Twitter users are well aware of what’s happening to Bitcoin. Today, the value of Bitcoin has dropped by more than 5.4% in just one hour. Various news sources such as Bloomberg, Cointelegraph, AZCoin News and CoinDesk have given reasons for the drop in Bitcoin’s price. They believe it could be due to the delay by Silvergate, the US’s most crypto-friendly bank, in submitting its annual financial report to the SEC. Furthermore, many trading boards and stablecoin issuers have turned to Silvergate during this time, according to a report by Siam Blockchain.

Shortly after, CZ posted another tweet, one hour after his previous post, saying, “Some people are often jealous of the others who bought the last dip. Don’t be that guy tomorrow.” He then ended by saying that this was not investment advice or a hint of any kind about the bottom.

Some netizens speculate that CZ is trying to persuade investors to buy Bitcoin at this time. However, CZ did not respond to MartyParty, a songwriter who commented on CZ’s post, stating that it sounds like CZ is manipulating the market.

Bitcoin is known for its volatility, and its value has been dropping recently. However, it is uncertain whether it will continue to fall or start to rise again. Investors are watching the market carefully for any signs of change.

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