Yesterday, Changan Zhao Changpeng (CZ) said that it is not a good idea to short the bitcoin. However, a user suspected of a cryptocurrency whale (a large cryptocurrency) seems confident that Bitcoin will fall below $8,000 by the end of August.
CZ tells cryptocurrency investors not to short the bitcoin. He hinted that Bitcoin is still on the rise and has not yet reached its peak.
On Monday, Bitcoin fell below $11,000. According to Coinmarketcap, yesterday, bitcoin prices were as high as $12,273. As of press time, Bitcoin prices remained at around $11,500.
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Although the fundamentals show that bitcoin continues to rise in the traditional financial sector, a mysterious whale has the opposite view. Twitter user @BitKrabs replies to CZ. If the price does not fall below $8,000 by the end of this month, he will transfer 10 bitcoins to CZ.
From the current price point of view, 10 Bitcoin companies are worth $115,000, so this bet is at least bold.
BitKrabs said resistance is between $11,000 and $12,000. Although Bitcoin has already exceeded the $12,000 level earlier, the price of Bitcoin has fallen back below $12,000 so far. We will wait and see in the next few days.
"August Bitcoin trend analysis: Bitcoin failed to break the next resistance level!
1. Bitcoin fell to $7,500 to $8,000.
2. We will try to reach the $9000 position again in mid-August.
3. Finally fell to the yellow line position. (You can buy here)" In the case of geopolitics full of uncertainties, the cryptocurrency, which ranks first in market value, is still in an upward trend.
The tight trade situation between China and the United States, the renminbi against the dollar, and so on have all driven the safe-haven position of Bitcoin, and the stock market has plummeted, thus pushing up Bitcoin.
It is worth noting that the highest point of Bitcoin this year appeared at the end of June, when the bitcoin transaction price exceeded $13,750.
(Editor: This article does not constitute investment advice, just a funny coin story~)