Binance Founder Changpeng Zhao (CZ) Issues Statement on the Drop in Bitcoin and Altcoins

Changpeng Zhao (CZ), the founder and former CEO of Binance and one of the most followed figures in the cryptocurrency world, was forced to make a statement following the market’s recent extremely poor performance.

After recovering somewhat yesterday, Bitcoin’s price fell by around 3% today due to the decline that also deeply affected gold and the US stock market, and is currently trading at $61,687.

In his latest post, CZ called for calm in the markets regarding the decline. Addressing those who declared Bitcoin “dead” after the drops, CZ said that “Bitcoin won’t stay dead for very long.” In addition, trying to quell the panic in the market, CZ added, “I’m saying this in capital letters and in a friendly way, don’t panic.”

As is known, the price of Bitcoin experienced a significant drop last Friday following strong employment reports in the US and increased likelihood of a Fed interest rate hike.

*This is not investment advice.