There seems to be a tug of war between crypto whales. Binance CEO Changpeng Zhao (CZ) has been challenged to a bet by BitKrabs, a self proclaimed crypto whale. BitKrabs has stated that if Bitcoin doesn’t drop below $8,000 this month, he’ll hand over 10 BTC to CZ.
The whole issue started when CZ stated that anyone who sold their bitcoin when the price was below $10,000 should “slap themselves” and wake up. This was the second time CZ would be saying this. The first time he had tweeted, “This is not financial advice, but you can slap yourself a little harder now. Don’t bet against $B ..” The second time, the Binance CEO, had put up a tweet post saying, “Slap yourself, if you sold $BTC under $10,000.”
Following CZ’s message, BitKrabs, a crypto-analyst made a bet with the Binance CEO saying “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.” BitKrabs made the call to his 10,000 followers on Twitter. However, CZ is yet to respond to this bet.
BitKrabs goes further to give a prediction for the month of August in another Tweet.
“#Bitcoin August Analysis: $BTC will fail to break next resistance!
1.What will happen instead is we will reject it, then nose dive to the 7.5-8K Range.
2. We will likely re-test 9K~ around the middle of August.
3. Final dip to the yellow line. (buy there).”
As at the time of writing the price of Bitcoin has dropped by 2.52% and is trading at $11481.91. While the price of bitcoin seems to be dropping, the trade war between China and the US has forced the People’s Bank of China (PBOC) to devalue its currency by almost 1.50%. So the advice of CZ not to short BTC might be valid.
Who do you think is right CZ Binance or @BitKrabs? Let us know your thoughts in the comments section!