Binance CEO Shares 3 Key Steps on How to Survive Market Crash
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Richard Teng, the new Binance chief executive officer, has addressed the crypto community with an X thread with a comment on the current market bloodbath. He also shared three key pieces of advice on how to survive through this hard time and profit on it.
3 strategic pieces of advice from Binance boss
Richard Teng, who took over the Binance steering wheel from Changpeng Zhao (CZ), tweeted that seeing a lot of panic during the current market sell-offs is understandable. However, he urged the Binance community to calm down and take it easy since “this is not the first time it has happened, and it won’t be the last either.”
Teng offered three pieces of advice to the crypto community regarding the current heavy market decline.
The first piece of advice was philosophical: “This too shall pass.” He reminded the audience that the current market downturn is temporary since the crypto market, similar to traditional ones, moves in cycles and has its moments of ups and downs. Teng stated that, overall, the market trajectory shows growth rather than a fall.
The second, and perhaps more constructive piece of advice, is that market downturns give one “the perfect time to build and learn”: to focus on developing one’s products, improving technical skills, exploring new protocols and connecting with communities.
“Use quieter periods to strengthen your foundation and prepare for opportunities,” he said.
The third and last piece of advice, or rather observation, offered to the community by Teng was that as the market becomes more mature, the community will begin to pay less attention to volatility. He pointed out that “assets with smaller market caps are more volatile.”
Yuri MolchanBitcoin crashes, time to get richer – Robert Kiyosaki
Robert Kiyosaki, a prominent investor and the author of the classic book on investments “Rich Dad Poor Dad,” has published a comment on the current state of the crypto market after it has seen $2.2 billion worth of assets liquidated from it in recent days.
Kiyosaki tweeted that the biggest market crash is here, and now all the assets are crashing. However, he said, looking at it from a different angle, they are all on sale now – Bitcoin, gold, silver, bonds, shares, real estate, etc. Therefore, “this is the best time to get rich,” he said.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Gamza Khanzadaev
Godfrey Benjamin
Dan Burgin
Vladislav Sopov