On August 5, CEO Binance Changpen Zhao (CZ) made a kind of bitcoin forecast, saying that shorting bitcoins now is not a good idea. However, one bitcoin kit expressed confidence that by the end of August, cryptocurrency No. 1 would fall below $ 8,000.
Crazy bet on 10 BTC
Saying that you should not shorten bitcoin so far, CZ hinted that the coin is now in the middle of the rally and has not reached its climax.
“This is not financial advice, but shorting can be a slap in the face for you. Do not bet against bitcoin. ”
Bitcoin began the week by breaking the resistance level of $ 11,000. According to Coinmarketcap, at the time of preparing this post, the coin was trading at $ 11,638 (-0.94%).
Analytical data indicate the continuation of the upward trend of Bitcoin due to problems in the world of traditional finance, but the BitKrabs crypto kit thinks differently. He is willing to argue with CZ that the price will drop below $ 8,000 by the end of August:
At the moment, 10 BTC is more than $ 115,000, and it should be noted that this is a very bold bet. BitKrabs claims to be a “crypto whale” and a Bitcoin fund manager. He also gave a detailed price forecast for August:
“Bitcoin analysis for August: BTC will not be able to break through further resistance levels!
1. Therefore, we will abandon them and plunge into the range of $ 7500- $ 8000.
2. Most likely, you will have to re-test $ 9000 in mid-August.
3. There will be a final decline to the yellow line (purchase there). ”
The analyst says that resistance levels are in the range of $ 11,000 – $ 12,000. Although on August 6, bitcoin already surpassed the level of $ 12,000, it is currently trading lower. However, time will tell.
The BitKrabs tweet also attracted the attention of many “crypto beggars” who begged him to “send 10 BTC” or “at least 1 BTC”, indicating that CZ is already rich enough.
Cryptocurrency No. 1 seems to be steadily moving up due to geopolitical uncertainty. Aggravation of trade tension between the US and China unexpectedly depreciated the yuan by 1.5%. Stock markets are falling and pushing bitcoin up, as many investors see it as a safe haven for their funds. Bitcoin’s annual maximum was reached at the end of June, when the coin was trading above $ 13,750.