© Reuters
Investing.com – As investors wonder if Bitcoin’s slide is over, after the cryptocurrency dipped below $18,000 for the first time since December 2020 last Saturday, the boss of Binance, the biggest exchange of cryptocurrencies in the world, “CZ”, gave his opinion on what could identify the bottom of BTC.
Sharing a tweet along with a chart, he pointed out that historically bitcoin has hit market lows when headlines announce that bitcoin is dead.
“Historically speaking, if you had bought bitcoin every time there were ‘bitcoin is dead’ headlines, you would have done well. Logic: when they lose hope, that’s when the bottom is in place.”
However, the CEO of Binance also warned that he does not recommend this or any other strategy for the future.
Finally, regarding the recent evolution of Bitcoin, it should be noted that the cryptocurrency again tested $20,000 last night, after seeing its rebound blocked by the $21,000 threshold earlier in the day, a threshold that the tries again to cross this Tuesday.