Binance CEO Changpeng Zhao (CZ) and Ethereum inventor Vitalik Buterin gave advice to crypto investors. CZ responded to those who said ‘Bitcoin is dead’ due to problems in the crypto market. Vitalik Buterin advised investors on navigating the crypto winter.
Changpeng Zhao: The leading cryptocurrency is not dead!
Something happens in the cryptocurrency market cyclically. This naturally creates a déjà vu for market followers. As you may recall, after the LUNA collapse, Binance’s CEO, CZ, responded to the “Bitcoin is dead” rumors on June 20. CZ stated that contrary to this general belief, everyone who buys leading cryptocurrencies gets a better return on investment. In this context, Zhao shared the following:
Historically speaking, you would do well if you bought Bitcoin every time the headlines “Bitcoin is dead” came out. Logic: When they lose hope, this is when they hit rock bottom.
As you follow on Kriptokoin.com, the collapse of FTX has deeply affected the cryptocurrency market. The market still hasn’t been able to get over the impact of the collapse and slump. The leading crypto Bitcoin cannot win a check, even if it rises above $ 16 thousand from the bottom it fell. This leads investors and traders to pessimism. Moreover, rumors of ‘Bitcoin is now dead’ are circulating. In this environment, CZ again repeats what he said before:
Bitcoin is not dead. We are still here.
#bitcoin is not dead. We are still here.
— CZ 🔶 BNB (@cz_binance) November 20, 2022
“Invest in simpler things”
Ethereum co-founder Vitalik Buterin recently gave an interview to Sumiko Tan, editor-in-chief of The Straits Times. Buterin advised cryptocurrency market participants to invest in ‘simple things’. Canadian programmer urged crypto investors not to trust ‘individual hotspots’.
Meanwhile, Buterin claims that he does not follow the price of ETH very closely. He adds that he does not speculate about crypto, as he prefers to “buy and hold things.” Talking about Singapore’s cryptocurrency scene, Buterin says it’s “to some extent” absolutely true that the local cryptocurrency space isn’t at its best, citing Terra’s discredited co-founder Do Kwon.
Vitalik Buterin: I’m not used to being so praised
The Canadian programmer, Buterin was asked if he was concerned about the potential use of Ethereum for malicious purposes. Buterin said there have been multiple decentralized finance (DeFi) attacks. At the same time, he praised the Ethereum community for supporting the good stuff and opposing the bad stuff. One of Buterin’s main problems with the Bitcoin community is that his members ‘automatically’ love anyone rich and powerful who supports the Bitcoin community. He recalled that many Bitcoiners started fawning over El Salvadoran dictator Nayib Bukele simply because of his government’s crypto gimmick.
Buterin also stated that he couldn’t get used to being so praised within the crypto community. He also added that he always disagreed with some statements about himself. In this context, Buterin made the following statement:
I think everyone reflects a part of themselves on me. And this is strange. Sometimes I can see a description of myself and I absolutely cannot relate to it.
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