Bitcoin has reclaimed the $100,000 threshold, reigniting excitement across the cryptocurrency sector. In response to this milestone, Changpeng Zhao (CZ), the former CEO of Binance, issued important advice to investors. CZ emphasized the 'golden rule' of navigating the crypto market: avoid panic-selling, especially during corrections or periods of heightened volatility. He stressed that panic-selling is often driven by insufficient understanding of technology, finance, and market fundamentals.
CZ advised that investors who purchase Bitcoin merely on the recommendations of others are more likely to sell impulsively in downturns. Instead, he recommended ongoing self-education—reading more about blockchain, finance, and global market dynamics—to build conviction and resilience. CZ revisited his earlier sentiments from 2021, reminding the community of the risks of selling BTC at prices below $100,000. Concurrently, on-chain analytics highlighted a surge in activity, with over 344,000 new wallets added to the Bitcoin network, attributed largely to growing FOMO as Bitcoin approached its all-time highs. As a result, bears in the market have been largely silenced, with Bitcoin peaking at around $103,800 before a slight correction to $102,653.