- Binance’s Founder has stirred the market with a complex take on volatile trends.
- In an unprecedented sell-off trend, Bitcoin’s price and altcoins remain in the red.
Binance Founder and former CEO Changpeng Zhao (CZ) has voiced his opinion on the ongoing decline in the crypto market. His comment quickly sparked discussions within the online crypto market.
Reduce Investment or Deal with Dips; CZ
Responding to an X post, where a user asked about his opinion on the present market, CZ stated, “Dips are a part of free markets.”
Zhao’s comments emphasize that the crypto market is synonymous with volatility, so this should not come as a surprise.
CZ acknowledged that his statement was not financial advice. Still, he recommended what he perceived as the solution for crypto users. He advised users to reduce their stake in crypto if they consider the asset class an investment. This emphasizes the need to ensure proper risk management when investing in crypto.
For his part, CZ said he already has a shift in his worldview regarding crypto. “I exited the old world 11 years ago,” he says.
This statement opined that the founder believed in the ideologies behind crypto. Therefore, he is determined to continue investing in crypto despite any challenges. It also suggests a shift from traditional systems toward a decentralized vision and community-driven innovation.
Moreover, embracing crypto as a worldview shift allows investors to see beyond short-term fluctuations. It paves the way for adaptability and finding their path towards financial freedom.
The crypto community received CZ’s advice with excitement. Many agreed 100% with the Binance founder, with one user emphasizing that the key is to maintain a strong shell and a keen sense of market sentiment. Another user said dips are blessings in disguise as they create opportunities for investors to buy their convictions at a discount.
Earlier this year, Changpeng Zhao addressed the crypto community, sharing his optimism and bullish mood for the market. While expressing excitement about crypto’s future, CZ projected that 2025 would be a “send it year.”
As indicated in our earlier discussion, market participants often use the “send it” phrase to express excitement when asset prices are soaring.
The Crypto Market Yet to Align with Expectations
Recently, CZ caught the market’s attention when he predicted that Bitcoin could surpass the $1 million mark. As reviewed in our recent publication, CZ accurately predicted in the past that BTC could climb to $101,000 before retracing to roughly $85,000.
At the time of this prediction, BTC’s price traded at around $19,000. CZ’s constant bullish predictions for Bitcoin suggest that he is unmoved by the market’s turbulence.
However, BTC has failed to meet his current expectations. Over the past week, the flagship coin experienced a decline worth 18.5% of its value. Between February 21 and 26, BTC crashed from $99,400 to the $83,800 zone.
BTC was down over 7% to trade at $80,545 at press time.
Other top-market altcoins, including Ethereum (ETH), XRP, Solana (SOL), and Binance Coin (BNB), are also in the red zone.
