Changpeng Zhao, former CEO of Binance, addressed investors, warning them against the illusion of quick wealth in the cryptocurrency markets.
Warning for Quick-Profit Seekers
Changpeng Zhao, with over 10 million followers on platform X, emphasized that cryptocurrency is not suitable for those looking for instant profits. He urged such individuals to avoid investing in the asset altogether to prevent future regrets over losses.
Long-Term Holding Outperforms Active Trading
Zhao pointed out that investors who opt for long-term holding of their crypto assets usually achieve better returns than active traders. He noted that simply holding Bitcoin without frequent trading outperforms most complex strategies.
Zhao's Optimism for Bitcoin's Future
Looking ahead, Zhao expressed optimism regarding Bitcoin, speculating that in the current market cycle, its price could reach $1 million. He links this perspective to the growing institutional interest.
Changpeng Zhao reminded that success in cryptocurrency requires patience and realistic expectations. His advice serves as a crucial reminder for those chasing quick gains.
