Binance CEO, Changpeng “CZ” Zhao has made his opinion known about investing/buying crypto in this bearish market.
CZ said on Friday July 1st that the recent crash in crypto prices makes it a good time to accumulate. The CEO of the largest volume-based crypto exchange made this known while speaking during the Bankless podcast.
He said that traders with extra cash should consider buying more crypto during the bear market, calling it a “cheap time to buy.”
The Binance CEO also backed his advice by mentioning El Salvadorian President, Nayib Bukele and other enthusiasts like Michael Saylor. He said both recently purchased Bitcoin after the price dip. CZ said that if traders could last through the current bear market, they would have much more holdings in the next bull run.
Cryptocurrency is currently in a harsh time. BTC has 75% comedown from $69,000 highs in November 2021. Today, the price of BTC is more than three times its all-time high.
Ether, the second-largest cryptocurrency after Bitcoin, dropped by more than 80% to $880 lows during the ongoing bear cycle. Other top altcoins like Cardano, Solana, Polkadot, etc are not left out.
Just like Changpeng Zhao, many experts has advised this is the best time to buy the dip. Many has also predicted this time as the end of BTC & other crypto assets.
