Changpeng Zhao, the founder of the leading cryptocurrency exchange Binance, shared a simple profit-making strategy for Bitcoin investors in a post on X on Thursday.
According to CZ, the golden rule for profiting from Bitcoin is to stay calm during periods of high market volatility, as many investors often incur losses by making emotion-based decisions when the cryptocurrency market declines.
"Don't panic sell," CZ sincerely advises new and current Bitcoin investors, assuring them that there is no complicated formula for maximizing profits from Bitcoin.
Bitcoin Surpasses $100,000
CZ's advice comes after the leading cryptocurrency Bitcoin surpassed the long-anticipated $100,000 mark, sparking discussions within the cryptocurrency community.
While the cryptocurrency market has witnessed significant changes in investor sentiment - experiencing a mix of skepticism and confidence after ongoing market downturns - the current market rally has boosted the fragile hopes of many investors.
After trading sideways in previous weeks, the cryptocurrency market has recently regained positive growth momentum, boosting investor confidence in Bitcoin's potential.
Bitcoin has seen significant price appreciation over the past day, as data from CoinMarketCap shows a 5.52% increase for the day, with this cryptocurrency trading at $101,316.38 as of the time of press.
Bitcoin's sudden price surge supports CZ's latest views on Bitcoin, showing that resilient Bitcoin holders will always have moments worth celebrating.
Recent data from Coinglass shows that over three million BTC have returned to profit as holders remain steadfast despite ongoing market difficulties.
While it is necessary to be cautious in the face of negative market signals, this data further demonstrates that panic selling causes more harm than good, as holders should only sell their assets for significant and calculated reasons, as opposed to the common tendency to panic sell.
It's important to note that volatility in the cryptocurrency market is inevitable. Therefore, those who avoid panic selling are more likely to benefit from the long-term positive trend in Bitcoin price fluctuations.