Changpeng Zhao, the founder of leading cryptocurrency exchange Binance, shared a simple profit-making strategy for Bitcoin investors in an X post on Thursday.
According to CZ, the golden rule for making profits in Bitcoin is to stay calm during moments of high market volatility, as many investors often incur losses due to emotional decisions taken during crypto market dips.
“Just don’t panic sell,” CZ offered warm advice to Bitcoin’s new and existing investors, reassuring them that there is no complex formula for maximizing Bitcoin returns.
Bitcoin surpasses $100,000
CZ’s advice came after the leading cryptocurrency, Bitcoin, crossed the long-anticipated $100,000 mark, sparking discussions across the crypto community.
While the crypto market has seen notable shifts in investor sentiment—experiencing a mix of skepticism and confidence following recurring broad market slumps—the ongoing market rally has boosted the weary hopes of many investors.
After trading sideways in previous weeks, the crypto market recently resumed positive momentum, boosting investors' confidence in Bitcoin’s potential.
Bitcoin has experienced a notable upsurge in its price over the last day, as data from CoinMarketCap shows a 5.52% daily increase, with the crypto trading at $101,316.38 as of press time.
The upsurge in Bitcoin’s price supports CZ’s latest opinion on Bitcoin, indicating that there will always be moments of celebration for resilient Bitcoin holders.
Recent data from Coinglass has shown over three million BTC returning to profit as their holders stood firm despite persistent market troubles.
While it is important to take caution against negative market signals, this data further proves that panic selling will only cause more harm than good, as holders should only sell off their assets for important, calculated reasons as opposed to the common habit of panic selling.
It is important to note that crypto market volatility is inevitable. As such, those who avoid panic selling are more likely to benefit from the long-term positive trend in Bitcoin’s price movement.
Vladislav Sopov