Downtrend from Binance CEO: Need to Panic?
There were serious losses in value in all crypto currencies, especially Bitcoin, last night. While the leading cryptocurrency Bitcoin (BTC) fell from the $ 57,300 band to $ 51,500, most altcoins also followed BTC, with declines of over 10%. While inexperienced investors panic in this decline, it is seen that experienced investors are waiting calmly. So what do popular names in the market think of the decline?
It Should Be Used As An Opportunity
In fact, many experienced investors think that such decreases should be considered as a buying opportunity for individuals. We encountered similar comments in previous corrections.
For example; After the recent drop, Binance CEO Changpeng Zhao said in a statement on Twitter, “We have returned to dips with plenty of opportunities.” used the expressions.
Many analysts and key figures , as well as the Binance CEO, also seem to agree that we are not currently in a bear market and this is just a serious correction. Therefore, it is stated that staying calm and not making panic sales will be the most logical strategy for the time being.
In fact, according to CZ’s statements, investors can consider these low levels as an opportunity to buy.
No need to panic
In fact, experts often say that you should not panic about such drops in crypto currencies and not sell when you are at a loss. However, investors are selling during the fall in order not to lose more.
It is seen that a similar situation is experienced during the rising moments. The investor, who wants not to miss the opportunity during a big rise, actually buys from high without realizing that he has missed the opportunity and then suffers damage when the fall begins.Therefore, it is thought that it is beneficial to heed the explanations of the experts in such periods and to proceed without panic as much as possible.