Binance’s CZ Says If You Sold the Dip, You Need to Unfollow the Weak Minds.
Binance’s co-founder, Changpeng “CZ” Zhao, has identified why some crypto proponents might be selling their stash at every market downturn.
Bitcoin and the broader crypto market dropped drastically over the weekend, with the former dumping below $100,000 for the first time in 45 days on Sunday. However, Bitcoin has rallied 8% from the dip to reclaim $106,000.
While some saw the downside as a buy opportunity, others fizzled out of the market. Binance’s co-founder, Changpeng Zhao, also known as CZ, suggested that the difference between the two groups of market participants could be who they follow or pay attention to.
Many believe that the crypto market requires extensive patience, and following the right people can make it easy. In a June 24 tweet, CZ had some advice for those who panicked and sold their cryptocurrencies amid the geopolitical tension.
CZ stated that if you sold the dip, it was because you followed weak minds. To avoid the reoccurrence of such scenarios, he advised ditching them to follow the right people.
Notably, Zhao blamed one’s circle as a good determinant for their strength in times of uncertainty. According to him, those who sold during the market dip simply do not follow the right people; they follow the “weak minds.”
Interestingly, his tweet follows a parallel X post a day earlier, where he insisted that every other thing, aside from a new all-time high, is a dip worthy of buying. This bullish mindset stresses that there is no excuse for not acquiring choice assets, as everything under their current peak price is an opportunity.
