CZ questions mainstream media for wrongfully telling people to buy the top

18 Dec, 2018
CZ questions mainstream media for wrongfully telling people to buy the top

Binance CEO Changpeng Zhao has commented on twitter about mainstream media and how they are bashing the cryptocurrency space now, while during the bull run they were praising the industry. 

In a recent tweet, CZ  felt the urge to comment on something everyone knows to be true, his tweet stated "Remember all the media coverage that was shilling blockchain/crypto, directly or indirectly encouraging people to invest, near the ATH, and are now bashing it. Wouldn't it make more sense if they did the reverse?"

News outlets have been quick to call bitcoin a bubble due to the 2018 drop in price, however during the bull run that saw BTC reach its $20,000 all-time high, the same outlets were telling retail investors to buy bitcoin. The lack of foresight is therefore concerning and in no way should their advice be taken seriously in the future.

The Binance CEO also refers to another tweet where he comments on a news title from Bloomberg titled "Yep, Bitcoin was a bubble. And it popped". CZ comments on the title "I will keep this one for future reference."
CZ clearly believes that news outlets are some way responsible for the negativity in the markets, as they incorrectly call for the opposite of whatever the market does.

Regardless, CZ stands firm with BTC and the future growth and adoption of the space.

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