A moment of silence for those who thought the $10K mark was now a major resistant point. Even worse, Binance CEO, CZ expects them to go through some self-inflicted pain.
It all began on August 1, 2019, when Changpeng Zhao, CEO of Binance cryptocurrency exchange said anyone who had been naive enough to sell their Bitcoin while it traded under $10,000 needs to slap themselves as a reminder for next time.
A Slap for Those Who Sold Bitcoin Under $10,000
According to Changpeng Zhao (CZ), if you had sold your Bitcoin while it traded below $10,000, then you definitely deserve a slap. However, that slap needs to come from your own hands as a reminder for next time. CZ’s words could imply that whoever had sold at that price level made a very bad call.
On the other hand, there was an uproar in the crypto community given that the tweet has since gotten over 2,000 retweets. Those who commented showed mixed reactions. A user, for instance, said CZ’s tweet is bearish because it means Bitcoin will someday dump below $10,000 again. However, another opined that there will never be a next time where Bitcoin trades under $10,000.
User Says CZ Needs a Slap for Banning U.S. Customers from Binance
While the argument was ongoing, a fresh controversy was begun by a crypto user who said Binance’s CEO also needs to slap himself. According to the user, the slap is well-deserved because CZ banned U.S. customers from using Binance when in actuality, customers in the U.S. account for the most volume of users on the digital currency exchange.
As a response, CZ said the user had misunderstood the situation because the decision was not up to the exchange to make. Back in June when Binance had publicized that U.S. customers will be unable to trade its platform starting from September 12, 2019, it claimed that it was in a bid to “comply with global compliance requirements.”
Community’s Anxiety for an Altcoin Season
These aside, a greater percentage of respondents were more interested in the altcoin season. Some opined that those holding altcoins instead of Bitcoin needs a slap. On the contrary, others noted that it was high time for the season to begin given that these assets have declined significantly while Bitcoin has been rallying all along.
Generally, CZ has shown high-level interest in Bitcoin of late. On July 20, 2019, he asked the community when they think Bitcoin will revisit its all-time high of $20,000. Respondents at the time opined that it could be between August to December 2019. Others said it could take as long as 2020 even though it’ll be before Bitcoin’s halving in May 2020.
Bitcoin, the asset in question is trading around $10,500 as at press time. Its price is a significant increment from the $9,600 it was priced at about 48 hours ago. At the moment, speculation is ongoing if it surges to $11,000, it may begin another rally which could possibly land it at $16,000 and then it’s an all-time high.