Gemini CEO Not Telling You to Buy Bitcoin, but Says It Is 'Looking Pretty Cheap'

Siamak Masnavi

Last Saturday (March 14), Tyler Winklevoss, Co-Founder and CEO of digital asset exchange Gemini, commented on the price of Bitcoin on Twitter.

According to data from CryptoCompare, at the time, Bitcoin was trading between $5,326 and $5,413.

BTC-USD One Month Chart on 17 March 2020.png

As you can see in the BTC-USD one-month price chart shown above, Bitcoin was trading at over $10,000 on February 18; and currently it is trading at $5,272 (as of 11:40 UTC on March 17), down 15.43% in the past 24-hour period:

BTC-USD 24 Hour Chart on 17 March 2020.png

Since the intraday high on February 18 was $10,182, this means that in the past 30-day period, the price of Bitcoin has fallen almost 50%.

At the time of Winklevoss' tweet, Bitcoin was trading just slightly higher than today, and so, his comment is still relevant.

This tweet was in response to a question by Kam Bennett, who is one of the richest American DJs:

This prompted Winklevoss to send out the following reply:

Interestingly, earlier today, one of the partners at Spartan Group, which is "a leading blockchain investment and advisory firm based in Singapore and Hong Kong," commented that we currently have "the most undervalued crypto market heading into BTC halving":

But what about the recent comments by influential analyst/trader Peter Brandt about the price of Bitcoin. On March 12, Brandt said that Bitcoin could bottom somewhere below $1,000, and then on March 13, he said that there was "a 50% chance it would go to $0".

Well, late yeasterday, Changpeng Zhao (aka "CZ"), Co-Founder and CEO of crypto exchange Binance, told those very few people who are worried about the possibility of the Bitcoin price falling to zero that he would personally make sure this would never happen: