China’s state TV crypto broadcast “big deal”, Binance CEO says

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  • Binance CEO Changpeng Zhao says China’s state TV crypto broadcast is “a big deal.”
  • He noted that previous coverage for crypto has historically been bullish.
  • His comments came after the bitcoin price struggled to stay above $26k on Wednesday.

binance CEO Changpeng Zhao, better known as CZ, says China is broadcasting crypto The segment on state broadcaster China Central Television is “a big deal” and such broadcasts have previously coincided with subsequent upswings in crypto prices.

According to CZ, the broadcast “has the Chinese-speaking community buzzing” considering how such coverage of bitcoin has coincided with the crypto price rally.

“It is a big deal. Chinese-speaking communities are buzzing,” he said Tweeted on Wednesday. ,Historically, such coverage led to bull runs.,

However, he added that his comments did not mean that “the past predicts the future, The CEO of Binance, one of the world’s biggest crypto supporters, added a disclaimer that his comments do not constitute financial advice.

Bitcoin Features in Chinese TV Broadcast

referenced broadcast A bitcoin ATM shows up in increasingly crypto-friendly Hong Kong. The crypto teller machine also shows a bitcoin logo and a “Buy bitcoin” inscription. The TV segment also featured commentary on NFTs.

But it should be remembered that China banned bitcoin (again) in 2021.

as highlighted Here on Tuesday, bitcoin price It briefly rose to touch the $27,500 resistance area as Hong Kong announced that retail investors would be able to buy and trade bitcoin and ethereum on regulated exchanges starting June 1.

Experts hail the announcement from the Securities and Futures Commission (SFC) of Hong Kong as a potential game changer for crypto adoption. The framework comes as Hong Kong positions itself as a leading crypto and blockchain hub, while at the same time offering guidelines and regulations that target greater protections for consumers.

Bitcoin hasn’t had a major reaction to the latest China-related news, and was struggling to stay above $26k as of 1:50PM ET on Wednesday. According to CoinGecko data, BTC was down 3.2% in the last 24 hours to reach $26,300.

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