Binance CEO Changpeng Zhao (CZ) frequently voices his views on cryptocurrencies on Twitter. When we look at his Twitter account, we see that he has expressed his views on almost every crypto currency issue.
These days, especially the bitcoin and other altcoins are on a rally as they hit double-digit numbers, CZ provided some risk management tips for cryptocurrency investors.
In bull markets, adopt risk management.
Don’t FOMO.
Don’t put all your investments in one single coin.NEWS CONTINUES BELOW(Not financial advice)
— CZ 🔶 Binance (@cz_binance) January 21, 2023
NEWS CONTINUES BELOW
Binance CEO: “No Need to Worry!”
In his latest tweet, Binance CEO stated that risk management should be adopted, especially in bull markets. He also underlined that investments should not be made for “fear of missing out” and that all investments should never be invested in a single cryptocurrency. Additionally, the CEO ended his tweet by saying “not financial advice”.
This is especially true of the saying “don’t put all your eggs in one basket”. This is a valid point because if you put all your money into one cryptocurrency and the unexpected happens, it means your entire investment is gone. However, if you diversify your portfolio, you have a much better chance of overcoming a tough market condition. He expressed his views.
The tweet from CZ comes at a time when Bitcoin surpassed $23,000 and Ethereum above $1,660, both of which have seen gains of over 35% over the past 30 days, according to data from CoinMarketCap.