The crypto market has recently remained in the news for the wrong reasons, especially for many Bitcoin investors who witnessed its value declining below the $20,000 support over the weekend.
These had led many analysts and experts to believe that this poor market run was just the beginning of the “crypto winter” period, creating a scare for new investors who felt their investments would amount to nothing, despite the optimistic advice of Binance’s founder.
In 2019, during the previous crypto winter, CZ tweeted about a similar event. But unfortunately, while people like Ki Young Ju, CEO of the leading analytic firm Crypto Quant took it seriously, some did not take him seriously.
CZ Believed the Crypto Market is Still Early
CZ had stated that the Bitcoin market is still in its early phase in the 2019 crypto winter when BTC declined to almost $3,000.
Back in 2019, the market had already crashed, just as it has already crashed these days. As a result, both $3,000 and the current $20,000 are considering low prices. At this time, Bitcoin is trading at around $21,024 up from the lows of $18,000 over the weekend.
Ju highlighted the wording of Binance CZ when BTC was around $3,000 in 2019. In 2019 CZ hinted that BTC is at the bottom and told the community that we are still very early.
CZ in 2019:
“That’s exactly what I thought back in 2013, “damn, I am too late. I wish I started early like those other guys.” I will say the same thing I heard back then. We are still early, the beginning of the beginning.”
Ki Young Ju stated that CZ’s advice is no different from what he said in 2019. However, new investors are not listening or acting at the right time.