Binance founder Changpeng 'CZ' Zhao responded to those saying Bitcoin is dead. In social media posts, he stated that Bitcoin will continue to grow. On X, Zhao posted a link to the site "Bitcoin is Dead", which displays over 380 articles claiming Bitcoin is dead. These articles were written over the years and show how Bitcoin has faced many negatives. However, Bitcoin has grown, solidifying its position as the most popular cryptocurrency asset.
Bitcoin's market capitalization reached a new high and is now equivalent to silver. CoinMarkeCap data shows Bitcoin at $89,452 and trading volume at $135 billion yesterday. Thanks to this update, the asset has attracted institutional and retail investors.
Track Bitcoin Price History
Historically, Bitcoin has had many predictions of its failure. A chart that CZ shared shows the price of Bitcoin since its launch. In this chart, you can see that some people claim Bitcoin will drop to $0 or $10 per coin when prices fall.
In 2011, 2014, 2018, and 2020, Bitcoin faced challenges to its existence. Moreover, after each price drop, Bitcoin recovered, leading to prices over $60,000 in 2021.
CZ Advises Caution
Although Bitcoin has recently risen in price, Changpeng Zhao advises everyone to be cautious. Zhao stated that people should avoid greed as the cryptocurrency market is very volatile.
Bitcoin price reached an all-time high, however Zhao warns investors that such increases can be accompanied by downturns. He recommends a cautious approach, emphasizing the importance of preparing for volatility.
Additionally, CZ advises investors to "act slowly", warning against hasty decisions that may arise during peak market periods.
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