The fog cloud in the cryptocurrency market has darkened after the US data. Investors and traders are worried that the Federal Reserve will become more hawkish, which will affect risky assets like Bitcoin and altcoins. In this environment, Binance CEO Changpeng Zhao shared about the investment.
Binance CEO: How long you last matters!
Today, Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange, commented on an early Bitcoin investor in a tweet from 2011. The tweet quoted by CZ refers to a post expressing regret, saying, “Maximum pain in one tweet.” In a post from 2011, a trader regrets buying 1,700 BTC at $0.06 and selling them at $0.30. Because, he says that BTC was $ 8 at the time he shared. Here, too, the time perspective comes to the fore. That’s where CZ stepped in and said, “It’s not how early you come, it’s how long you last!” he replied.
Also, followers were included in this discussion chain. One of CZ’s followers hinted that Binance’s native token could go through a similar process. In this context, the user claimed that he also remembers when BNB was $ 8 and that history would repeat itself when it exceeds $ 20 thousand. Binance CEO Changpeng Zhao “’Let’s wait and see!” he replied.
Bitcoin price performance
cryptocoin.comAs you follow, the cryptocurrency market has been on the rise with hopes that the Fed will dove after the Federal Reserve’s 25 basis points increase. In this process, the leading crypto Bitcoin (BTC) has exceeded the psychological limit of 25 thousand dollars. However, this positive mood in the market did not last long. As US inflation and employment data did not meet expectations, expectations increased that the Fed would act more aggressively to reduce inflation. After that, there was a sale in risky assets and Bitcoin fell below $ 23 thousand.
The leading crypto Bitcoin reached an all-time high of $ 69,000 in the bull run towards the end of 2021. However, with the negative effects experienced in 2022 and the Fed, which began to tighten in order to restrain the exploding inflation, it fell to 15 thousand dollars. On the other hand, from a longer-term perspective, Bitcoin is still among the most profitable assets. This makes CZ’s statement more meaningful.
At press time, Bitcoin was trading at $23,422, up 1.7% on a daily basis. Binance Coin (BNB) has reached $307 with gains of 1.83% for the last 24 hours.
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