Binance CEO CZ: ‘Bitcoin Moving Up So Slowly, Feels Like A Stablecoin’

Bitcoin Stable At $9.5K After Sharp Price Drop, Is $10K Still The Target?

Bitcoin has been in the headlines of late, and for good reasons. The top crypto has been showing serious signs of a gargantuan price spike. In fact, Bitcoin has already gained close to thrice its early-year value. In March 2020, the coin was trading at around $4,100. Today, it’s going for close to $12,000. However, one particular influential person thinks Bitcoin is moving up very slowly.

According to Binance CEO Changpeng Zhao (CZ), Bitcoin’s slow movement makes it appear like it’s a Stablecoin, although its returns for the year have been great. CZ made his sentiments known in a recent Twitter post.

I don’t know about you, but #bitcoin feels like a stable coin to me. It’s moving up so slowly.

It only moved from $4100 in March to $11800 now.

Every time it moved up, I get used to the new price in like 30 seconds, and starts to wish it will go higher…

— CZ Binance (@cz_binance) August 20, 2020

Ultra-Bullish Sentiment

From a critical point of view, CZ’s statement comes off as super-bullish for Bitcoin. In his opinion, the coin’s new price when it moves up gets quickly normalized, giving off the vibe that the crypto’s value is expected to keep rising.

The Binance CEO isn’t the only person who thinks Bitcoin is headed to the moon. Numerous other big shots have shared their bullish sentiments in the recent past, with some expecting the crypto to one day be worth over a million dollars.

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