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Binance founder Changpeng ‘CZ’ Zhao responded to those who say Bitcoin is dead. In posts on social media, he said that Bitcoin will continue to grow.
On X, Zhao posted a link to the “Bitcoin is Dead” website, which shows over 380 articles that say Bitcoin is dead. These articles were written over the years and show how much negativity Bitcoin has faced. However, Bitcoin grew, which solidified its place as the most popular crypto asset.
Bitcoin’s market cap reached a new high and is now similar to silver’s. CoinMarkeCap data show that Bitcoin was $89,452, and its trading volume was $135 billion yesterday. Because of this update, the asset attracted institutional and retail investors.
Tracking Bitcoin’s Price History
Historically, Bitcoin has had many who predicted it would fail. A chart that CZ shared shows Bitcoin’s price since it launched. In this chart, you can see that some people said that Bitcoin would fall to zero or $10 per coin when the price fell.
In 2011, 2014, 2018, and 2020, Bitcoin faced challenges in terms of its viability. Moreover, after each price drop, Bitcoin saw a recovery, resulting in a price of over $60,000 by 2021.
CZ Advises Caution
Even though Bitcoin has risen recently, Changpeng Zhao advised people to be cautious. Zhao said that people should avoid greed because the crypto market moves up and down a lot.
Bitcoin’s price reached an all-time high, yet Zhao warned investors that such gains could be followed by periods of downswing. He recommended a cautious approach, stressing the importance of being prepared for fluctuations.
Additionally, CZ advised investors to “ape slowly,” cautioning against the quick decisions that can arise during market highs.
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