• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

CZ Says “Bitcoin is Dead” Headlines Are An Indication Of Bitcoin’s Bottom, Peter Schiff Disagrees

Anifowoshe Ibrahim by Anifowoshe Ibrahim
5 days ago
in Bitcoin, Bitcoin Cash
Reading Time: 2 mins read
Advertisement

Binance CEO “CZ” has given his opinion on Bitcoin’s bottom at a time when crypto analysts and Bitcoin advocates are trying to anticipate a bottom. When “bitcoin is dead” stories appear, he believes the king crypto will bottom out. As a result, he argued, everyone who bought Bitcoin when such a sentiment existed in the past gained the most money.

CZ Notes BTC Could Bottom When Negative Sentiment Surge

In a tweet on June 20, Binance CEO “CZ” remarked that anyone who bought the pioneer crypto when the public consensus was that “bitcoin is dead” got a greater return on investment. Furthermore, the bottom is reached when people lose hope of a BTC recovery. Bitcoin is a great buy-the-dip opportunity at these prices.

He said:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“Historically speaking, if you bought Bitcoin every time there is a “bitcoin is dead” headlines, you would have done well. Logic: when they lose hope, that’s when the bottom is in.”

 

"Bitcoin Is Dead" headlines indicates Bitcoin bottom

The Binance CEO, however, cautioned that he was not endorsing this or any other technique in the future. Many people believed the Bitcoin bubble will collapse when the price of the cryptocurrency rose above $65,000. Speculative bubbles have already occurred in 2011, 2013, 2017, and 2021-22.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Bitcoin

BTC/USD trades at $20k. Source: TradingView

The benchmark coin is currently trading at $20,440 up roughly 15% from its low of $17,708 on June 18.

Several crypto investors and firms, like Digital Currency Group, have acknowledged that they are buying BTC now while it is still cheap.

Related Reading | Bitcoin Derivatives Exchange Reserve Surges Up As BTC Continues To Plunge

“$20K Is The New $30K” For Bitcoin

On the other hand, Peter Schiff has urged Bitcoin investors not to get too happy if the price of the cryptocurrency rises above $20,000 again. He feels that $20,000 is the “the new $30,000” and that tiny increases are to be expected before a huge drop. He went on to say that big dips don’t happen in a straight line, and the slow descent is “extremely orderly.”

Schiff also noted that he has yet to see any evidence of capitulation, which would indicate a bottom in the current crypto bear market.

Don't get excited about #Bitcoin being back above $20K. 20 is the new 30. This is just another bull trap. Nothing drops in a straight line. In fact, this slow motion crash has been extremely orderly. No sign yet of any capitulation that typically forms a bear market bottom.

— Peter Schiff (@PeterSchiff) June 19, 2022

Schiff predicted that the king crypto will go as low as $6,000 on many occasions earlier this year. He tweeted over the weekend that his prior prognosis of the cryptocurrency market falling below $800 billion has been confirmed, but it took a few more days, and altcoins fared better than he predicted.

Related reading | Why Bitcoin Could Take Another Bite At $17K

Featured image from Pixabay, chart from TradingView.com

 

Tags: bitcoinbtccryptopeter schiff
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Anifowoshe Ibrahim

Anifowoshe Ibrahim

Related Posts

Bitcoin

Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?

2 hours ago
bitcoin

Bitcoin May Not Reclaim All-Time High For Another Two Years, Binance CEO

22 hours ago
Bitcoin Whale

Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead?

1 day ago
crypto market extreme fear

Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000

1 day ago
bitcoin

Bitcoin Perpetual Open Interest Suggests Short Squeeze Led To Crash

2 days ago
Bitcoin

Bitcoin May Have Hit Bottom According to These Indicators, BTC Targets $23K?

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Will Xchange Monster (MXCH) and Decentraland (MANA) continue to push Gamefi to new heights?

June 25, 2022

Navigating The Crypto Crash Of 2022

June 25, 2022

Gnox (GNOX) Is Named One Of The Best Tokens For New Investors Making Their Way To DeFi, In Addition To Tron (TRX)

June 25, 2022

Gnox (GNOX) Sees Dramatic 63% Price Increase During Presale While Other Top Alts; Ethereum (ETH), Shiba Inu (SHIB) And Cardano (ADA) Signal Bullish Reversal

June 25, 2022

SpaceMine (MINE) Is Now Available for Trading on LBank Exchange

June 25, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.