Crypto Whale Challenges Binance CEO, Bets Bitcoin Will Drop Below $8,000
A crypto trader is challenging Binance CEO Changpeng Zhao’s bullish outlook on Bitcoin.
Zhao has twice stated that he thinks anyone who sold BTC when the price was below $10,000 should “slap themselves” and wake up.
This is not financial advice, but you can slap yourself a little harder now.
— CZ Binance (@cz_binance) August 6, 2019
After Zhao reiterated his message, a crypto analyst and self-proclaimed whale named BitKrabs told his 10,000 followers on Twitter that he’ll hand over 10 BTC if Bitcoin doesn’t drop below $8,000 this month.
“Don’t bet against Bitcoin? Okay, well I disagree. If it doesn’t crash back below 8k this month, I’ll personally send you 10 BTC.”
So far, Zhao has not responded to the challenge. At the time of writing, 10 BTC is worth approximately $117,000, according to CoinMarketCap.
BitKrabs says he believes BTC will fail to cross its next line of resistance at around $12,000, triggering a drop to $8K.
“BTC will fail to break next resistance! What will happen instead is we will reject it, then nose dive to the 7.5-8K Range. We will likely re-test 9K around the middle of August. [Then, a] final dip to the yellow line. (buy there)”