Binance CEO Announces The Base Level For Bitcoin!

Changpeng Zhao, CEO of Binance, the largest cryptocurrency exchange, talked about Bitcoin (BTC) in a new Twitter post. Over the years, he has listed the levels where Bitcoin “crashed”. Here are the details…

Binance CEO tweeted Bitcoin

The CEO of Binance, the largest cryptocurrency exchange in terms of trading volume, commented on Bitcoin’s price movements. As it is known, Bitcoin started to decline after the first quarter of 2022. Some developments in both macroeconomic and crypto money accelerated this decline. Currently, the cost of BTC is about 70 percent below the $69,000 it registered in November of 2021. This has been interpreted as a “collapse”, especially by new individuals who are not familiar with the cycles in the cryptocurrency market.

This was also noted in the latest tweet of the Binance CEO. Changpeng Zhao has shared the so-called “crashed” levels for Bitcoin over the years. Zhao mentioned that BTC “crashed” to $200 in 2014, $3,000 in 2018, and $20,000 in 2022. After four years of cycles, he said he had no idea to what level BTC might have “crashed” in 2026. However, as can be seen in the tweet, Zhao actually pointed out that BTC is rising in the long run. The levels that Zhao points to are mostly the baselines of the 4-year cycles in question. Therefore, Zhao is considered to have marked $20,000 as the base level in the current bear market.

Stock market played a role in Twitter acquisition

Meanwhile, Zhao also made comments about Elon Musk’s Twitter reception. As we have also reported, the stock market invested $ 500 million for this acquisition. At the Web Summit conference in Lisbon, Zhao said the so-called investment was driven by a love of “freedom of expression.” Zhao also mentioned other “very strong reasons” for investing in the social media platform. In the midst of these is Twitter’s role as the “global town square” where many people, from crypto enthusiasts to politicians, can voice their opinions.

Zhao is an avid Twitter user with 7.2 million followers. “I use the Twitter app more than the Binance app,” he said at Web Summit. Because, as is known, Zhao does not trade. More of a long-term investor than a short-term trader. That’s why it uses the Binance platform to store cryptocurrencies.

Binance isn’t the only supporter of Musk’s Twitter acquisition. Other high-profile investors in the agreement include the Qatar Investment Authority and Saudi Arabian Prince Alwaleed bin Talal, according to various regulatory filings. Despite Musk putting $500 million in the memorandum, Zhao said the Tesla CEO had little idea what he wanted to do with Twitter. “We trust Elon to lead this,” he said as investors.

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