CZ says his bullish post and the subsequent market rise were merely coincidental in timing

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CZ Denied having the ability to influence crypto market prices, saying the timing of the post and the positive news being close was purely coincidental

BlockBeats news,September 26，Binance founder CZ said on the When Shift Happens podcast that he has always been bullish on Bitcoin, but denied having the ability to influence prices across the entire crypto market. Regarding his previous post on August 19 when Bitcoin was trading in the approximately 60000 USD range,CZ posted that if he wanted his 2-year-old future self to thank him for today's decision, he needed to take action immediately. The post was interpreted by the market as a hint to buy Bitcoin, after which the crypto market rose by approximately 20%。

CZ responded that he did not have the ability to drive prices across the entire market. He said he had always been bullish on the crypto industry, that almost all of his posts had a bullish bias, and that he might post 5 to 10 times a day, so it was not surprising that one of them happened to appear shortly before positive news.CZ said that approximately 5 hours after the post was published, Trump delivered relatively positive remarks on the crypto industry, including a mention of promoting Hyperliquid's entry into the US market, but that he had not known the content of the remarks in advance. He stressed that if he had any information that could affect the market, he would not post about it. Therefore, the post and the subsequent market rise were merely coincidental in timing.

Regarding Bitcoin cycles,CZ said that the crypto market has so far broadly followed a 4-year cycle. Some people used this to estimate that Bitcoin might bottom in October; he believes there was no need to wait until October to express a bullish view.

Original link https://m.theblockbeats.info/flash/369135