Binance’s CZ Sees Highs and Lows in Future: Advises Caution

• CZ has asked crypto investors to maintain caution amid BTC price surge.
• CZ believes that the market will remain volatile in the near future.
• Bitcoin made a new all-time high at $77,252.75, breaking $77K for the first time.

Changpeng Zhao, co-founder and former CEO of Binance, urged his 9 million X followers to stay cautious and avoid greed as Bitcoin (BTC) reached $77,000 for the first time ever, hitting a new all-time high of $77,252.75.

In an X post, Zhao stated that Bitcoin reaching $77,000 is “just the beginning,” and market participants should anticipate further price surges soon. He acknowledged the market’s volatility, advising investors to prepare for the ups and downs of the digital asset sector.

Zhao recommended that crypto investors control their greed and diversify their holdings. “Ape slowly,” he said, reposting a February 2021 X post where he emphasized that patience and avoiding panic selling are key to success in the crypto space.

Zhao’s X account recently became active again after he completed a four-month prison sentence in Lompoc, California. The billionaire’s net worth increased by $12.6 billion in the past year.

Bitcoin Claims $77K

Bitcoin surpassed $77,000 in the past 24 hours and currently trades at $76,419.54, up 0.54% in the past 24 hours, 10.06% in the past week, and 25.60% in the last 30 days. Since November 2023, BTC has surged 107.87%, overcoming market FUD.

Read also: Imprisoned, Yet Richer: CZ Adds $12.6B as Crypto Recovers

The Relative Strength Index (RSI) is at 71.23, indicating that Bitcoin is currently overbought. This suggests a potential market correction, but BTC could also move towards $80,000.