Binance Founder Changpeng Zhao Issues Warning to Bitcoin Investors

Binance founder Changpeng 'CZ' Zhao responded to critics who have long claimed that Bitcoin is doomed.

He pointed out that despite years of skepticism, Bitcoin has only continued to grow stronger.

Zhao shared a link to a website showcasing over 380 articles from various years predicting Bitcoin’s demise. Despite these claims, Bitcoin has not only survived but thrived, solidifying its status as the leading cryptocurrency.

As Bitcoin’s market capitalization reaches new milestones, mirroring the value of silver, its price recently hit $89,452, with daily trading volumes surpassing $135 billion. This growth has captured the attention of both institutional and retail investors alike.

Bitcoin’s history is filled with critics, particularly during times of price drops. Zhao shared a chart demonstrating Bitcoin’s resilience, showing how predictions of its failure were made during declines in 2011, 2014, 2018, and 2020. Each time, Bitcoin rebounded, ultimately surpassing $60,000 in 2021.

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However, Zhao emphasized caution despite the recent surge. He advised investors to avoid being swayed by greed, acknowledging that the volatile nature of the crypto market can lead to sharp fluctuations. His advice was to “ape slowly,” encouraging a thoughtful approach rather than rushing into decisions during market highs.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.