Warning from CZ, former CEO of Binance! Beware of buying new Altcoins! He shared his own experience of "getting wrecked"!
Dear friends! We have an important warning from a prominent figure in the crypto sphere, โCZโ (Changpeng Zhao), former CEO and founder of Binance! CZ has come out to warn investors, especially new ones, to be cautious about buying new Altcoins or newly listed tokens that are quickly being listed on larger exchanges like Binance.
๐ What is CZ's warning?
CZ warns that when new Altcoins are listed, they often experience strong price surges during the initial phase due to excitement and profit-taking, but soon after, the price may drop significantly, making it difficult for investors who buy at high prices to "get wrecked" or to lose capital heavily.
๐ CZ's experience of "getting wreckedโ!
CZ shared a personal experience warning this: He mentioned that he previously invested in a token that was newly listed on Binance and found that the price of that token dropped by 90% within just a few days after the listing! ๐คฏ
He admits that even those who have been in the space for a long time can still miss out.
๐ง The recommendation from CZ is:
Wait for a proper price point: Donโt rush to buy at the moment a token is listed; allow time for the price to stabilize and find a balance point first.
Research thoroughly: Buying tokens when prices are sharply rising carries high risk; understand the project's fundamentals before making any investment decisions.
๐ก๏ธ Summary: Do not let emotions drive your investments!
This warning emphasizes the volatility and high risks of new Altcoins, as there may be opportunities for high profits but also significant risks of heavy losses. Investors should rely more on solid reasons than mere excitement and plan their investments carefully.
Many believe that CZ's warnings about buying new listed Altcoins hold great truth based on the investment experiences of friends. What strategies should we use to find safe entry points for newly listed tokens? Letโs share together ๐
News source: bitcoinsistemi
