Binance’s CZ Issues Crucial Advice for Those Shaken Out by Bitcoin Crash

Changpeng Zhao, also known as CZ, who co-founded the world’s largest exchange Binance in 2017 and ran it as the CEO until 2023, has addressed the community to lend a supporting hand to those who have been shaken out by the current crypto market decline.

CZ provided a key piece of advice to those people, sharing a life hack that can beat all the market volatility.

 

CZ recommends reducing your crypto bag

Over the past seven days, the world’s largest cryptocurrency, Bitcoin, has crashed by more than 20%, bottoming on Friday when it went down as low as $78,764. By now, BTC has managed to partly pare its losses and regained 7.8%. At the time of this writing, it is changing hands at $85,246 on the Bitstamp exchange.

CZ addressed those who have suffered from the giant Bitcoin decline and the overall crypto market drawdown that followed. In the post published today for those who “got shaken out during the dip” he gave them simple advice: “Reduce your size to a level you can handle.”

CZ added that mental stability is crucial for long-term crypto holders, and it can help handle the heavy volatility that is taking place in the market: “Mental stability beats all market volatility.”

This tweet mirrors the X post issued by CZ yesterday as if he decided to repeat the same thought for a better effect. He emphasized that dips are an integral part of crypto markets. “If you are stressed about it, you probably should reduce your investment size,” he said.