After the crypto-friendly Trump was elected and the uncertainty of the presidential election was eliminated, Bitcoin has hit a new all-time high for four consecutive days:
- On the 6th, it broke through the $73,777 high point of this year in March, setting a new high of $75,242
- At 5 a.m. on the 7th, it climbed to $76,422
- At around 4 a.m. on the 8th, it reached $76,848
- In the early hours of today, around 3:30 a.m., it broke through $77,000, reaching a high of $77,200, setting a new all-time high
At the time of writing, Bitcoin has retreated to $76,154, with the 24-hour gain narrowing to 0.55%.
CZ: Don't put all your eggs in one basket
Regarding the continued record-breaking trend of Bitcoin, CZ, the founder of Binance who was released from prison in late September, shared his views on X, advising investors to properly manage their risks. He said:
"As #bitcoin make successive new all time highs, apply proper risk management. There will be many dips (and highs) in the future. Make sure you can handle them. Control your greed. Don't put all your eggs in one basket. Ape slowly."
He reminded investors to ensure they can withstand market volatility, control their greed, and not put all their eggs in one basket, but invest slowly.
CZ's remarks seem to imply that he does not believe Bitcoin's current price has reached its peak, but he also warns that there may be multiple corrections before the final high is reached, and therefore investors should be prepared (such as using leverage cautiously) to cope with market volatility in a stable manner.
As #bitcoin make successive new all time highs, apply proper risk management. There will be many dips (and highs) in the future. Make sure you can handle them. Control your greed. Don't put all your eggs in one basket. Ape slowly. https://t.co/lSfLHbj7go
— CZ
BNB (@cz_binance) November 8, 2024
CZ's three main investment focuses
As an OG who sold his Shanghai apartment to invest in Bitcoin as early as 2013, CZ has experienced countless storms in the crypto market, so his remarks carry a lot of weight.
Recently, he appeared at the Binance Blockchain Week in Dubai, UAE in late October and stated that his work at Binance has ended, and he will now focus on his next goal. He mentioned that he will have more time to research AI, as well as the DeFi field that he previously had little time to explore in depth, and he will also devote himself to his educational project Giggle Academy. In the future, his main focus and investment direction will be in the three fields of blockchain, AI, and biotechnology.
In early November, he appeared again in another Middle Eastern country, Bahrain. He mentioned that he has learned that Hong Kong peers are actively exploring RWA, but due to the relatively small price fluctuations of these assets, it is difficult to form sufficient trading volume in the secondary market, and liquidity is also easy to shrink. He believes that to promote the development of the RWA field, innovators still need to propose applications that can truly promote liquidity.
In addition, CZ emphasized that he is very optimistic about investment opportunities in the Middle East, and in addition to investing in the blockchain field, he has also begun to layout in the AI and biotechnology fields in the GCC countries.
