Recently, Zhao Changpeng (CZ), the founder of Binance, once again used his astonishing market insight to successfully 'predict' the significant drop of Bitcoin (BTC). Looking back at his previous remarks, Zhao Changpeng has mentioned on multiple occasions the unpredictability of market fluctuations and warned investors not to be overly confident that the market will always be favorable. It turns out this prediction was not unfounded, as Bitcoin quickly plummeted from its peak of $101,000 to $85,000, which not only surprised many investors but also validated his 'market intuition' once again.
Zhao Changpeng publicly stated at the end of 2023 and the beginning of 2024 that while the long-term prospects for Bitcoin remain optimistic, the violent fluctuations in the market are inevitable in the short term. He mentioned that due to the uncertainty of the global economy, assets, including cryptocurrencies, will be strongly influenced by market sentiment, macroeconomic policies, and investor psychology. At that time, Bitcoin's price had just broken through the $100,000 mark, and many investors believed it would continue to rise, but Zhao Changpeng's view was that Bitcoin's price is likely to experience a correction, with a potentially significant decline.
Now, Bitcoin's price has indeed fallen as Zhao Changpeng predicted, from $101,000 to $85,000, a decline of over 15%. Although market sentiment is not optimistic, we also need to pay attention to the underlying technical factors and market dynamics:
1. Macroeconomic Factors: The uncertainty of the global economy, especially factors like the Federal Reserve's interest rate hikes and inflation, has led investors to adopt a cautious attitude towards risk assets. As a risk asset, Bitcoin is particularly affected by this series of policies.
2. Investor Psychology: After Bitcoin broke through the $100,000 mark, it attracted a large number of 'newbie investors' who do not have a deep understanding of the market and lack awareness of volatility, leading to panic selling during price corrections.
3. Technical Pressure: Technical analysis also shows that there is strong technical resistance around $100,000 for Bitcoin, and once it breaks through, it lacks the momentum for continued upward movement, making the market prone to rapid corrections.
Zhao Changpeng's prediction is not merely a 'guess'; his remarks stem from long-term in-depth research on market dynamics and precise grasp of capital flows. As the founder of Binance, he has witnessed countless market ups and downs, making his 'sensitivity' to the market quite sharp. Compared to those investors who rely on 'short-term wealth,' Zhao Changpeng places more emphasis on the long-term stability of the market. He has repeatedly reminded everyone to be psychologically prepared for the market's major fluctuations rather than pursuing temporary profits.
In this Bitcoin correction, Zhao Changpeng's remarks once again became a wake-up call for investors. For those who blindly chased high around $100,000, this correction undoubtedly provided them with a profound lesson: the market is not simply about rising, but is full of fluctuations and challenges.
The fact that Bitcoin fell from $101,000 to $85,000 also reminds us to stay calm during the investment process. Every fluctuation in the market can become an opportunity for wealth, but it can also bring enormous risks. Zhao Changpeng's prediction not only validated his profound insight into the market but also sounded the alarm for all investors: no matter how strong the market seems, we cannot ignore its volatility and unpredictability.
Therefore, if you are a holder of Bitcoin or are considering entering the market, remember: do not blindly chase prices, be fully aware of risks, look for opportunities in bear markets, and grasp the rhythm in bull markets to truly establish yourself in the long-term development of the cryptocurrency market. Updated in February 2025.
