Home Crypto Exchanges CZ Binance (BNB) on Anybody Can Like Whatever Coins They Want

CZ Binance (BNB) on Anybody Can Like Whatever Coins They Want

Binance BNB

CZ talking about the current market situation, a few days ago, we experienced a very significant downtrend or drawdown for Bitcoin, around 50%. For Binance coin from the previous all-time high, which is $690, it was 60 to 70%, but I want to say look this kind of corrections and retracements are common.

Nobody knows if it is the beginning of the bear market. Now we kind of know that the market is bouncing back. Unlikely, but don’t take my advice for it. We never know what is going to happen tomorrow. Crypto does have high volatility.

And, to be honest, in the last 6 months or a year or so, we have seen very little volatility. We were only seeing volatility in the upward direction, which is actually very fortunate, but 50% drawdowns were very common 3 or 4 years ago. And, it was more common before that. It is very normal market behavior. Nobody knows what caused it.

Somebody blamed Musk for starting this sort of retracement. Some people blamed the weather, who knows, and so none of those things can be proven. It is a mass psychology market.  So, there is probably a couple of hundred million people involved in the crypto market now. And, they can all trade. And, their trades make up the market. So, the crypto market is highly volatile. So, if you are investing in the crypto market, you take precautions or proper risk management measures so that you don’t get affected severely by this type of drawdown.

So, don’t invest the money that you have to pay your next month’s rent. For crypto investment, I highly recommend you use the money that you don’t need for the next few years. It should be money that you really don’t need in any urgent sense.

So, do proper risk management. It is a kind of normal market.  Bitcoin have gone up 3x or 5x since the beginning of the year from the previous all-time high. And, Binance coin went 10X 20X from the previous all-time highs of almost 700 dollars. Some corrections are not normal, so markets fluctuate both ways. So, do take proper risk management and protect yourself.

About Meme Coin:  To be very frank, I enjoy memes, but I am not a meme coin kind of guy. I like coins with utility. They are very famous people, Elon Musk, who like meme coins, and for various reasons, I think we are in a decentralized world, and anybody can like whatever coin they want.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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