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Binance CEO Advises Community to Exploit the Current Market Fear

source-logo  coinedition.com 17 December 2022 15:25, UTC

The CEO of Binance, Changpeng Zhao, is stylishly telling the crypto community that buying crypto coins now at the low prices where most crypto enthusiasts are fateful could be a good decision.

Zhao tweeted today, reminding the community that maximum greed happens at the top when prices are higher, and ultimate fear occurs at the bottom when most people panic sell. However, the CEO clarified that his words were not financial advice but comments based on historical facts.


Maximum greed happens at top.
Maximum fear happens at bottom.

Not financial advice. Just stating a fact.

— CZ 🔶 Binance (@cz_binance) December 17, 2022

Last month, a crypto chart analyst, Kyledoops, put historical data together and asserted that amassing BTC at the current discount prices would offer investors a maximum opportunity given that the next Bitcoin halving is approximately 1.5 years away.

1/10) A thread on why I (a renowned bear) believe we are approaching maximum opportunity, and how I plan on buying at/near the bottom, all whilst practicing solid risk management. #Bitcoin

Please retweet, and I shall explain my thinking process 🙃 pic.twitter.com/OVgISoDSsd

— Kyledoops (@kyledoops) November 25, 2022

In an earlier tweet, crypto influencer Ben Armstrong argued it would be pretty reckless to wait until BTC touches $10k before investing. He noted that not taking profits at the top and not accumulating crypto near the bottom are the two things people live to regret.

Notably, according to data from the market tracking site, CoinMarketCap, the global crypto market cap lost nearly $22 billion in the last 24 hours. Currently, BTC trades at around the $16k price range after briefly hitting $18,000 over the previous 48 hours.

According to the market intelligence platform, Santiment, five-year BTC investors are now at a loss. Santiment shared a chart with the crypto community proclaiming that people who have been holding Bitcoin for the last five years are now underwater, with a 34% loss on average.