CZ urges everyone to seize the opportunity to buy Bitcoin

Bitcoin fell to a low of $89,280 on Monday, its lowest level since mid-November. The drop comes as many other crypto assets have struggled in recent weeks. Even with the sharp drop, Changpeng Zhao (CZ) is encouraging people to see this as an opportunity to buy Bitcoin.

Message from CZ
In his tweet, CZ shared common regrets among many in the crypto space, such as wishing they had bought Bitcoin in the early days, missed out on dips, or sold too early.

He pointed out that many people have struggled to ignore the fear, uncertainty and doubt (FUD) of market corrections but now he urges people to continue buying more Bitcoin when the price drops and hold them for the long term instead of selling it during difficult market times.

CZ ended his tweet with a powerful statement: “Today is sooner than any day to come.” This simple yet powerful statement carries a clear message, there is no better time to act than right now.

While Bitcoin has seen significant price increases in 2024, the overall outlook is that there is still plenty of opportunity in the market. With Bitcoin currently down 15% from its all-time high of $108,000, those willing to act now can still find valuable prospects ahead.

Bitcoin Price Analysis
As of press time, Bitcoin is trading at $97,000, showing a significant recovery after experiencing a drop. Over the past 24 hours, the cryptocurrency has increased by about 2.3%, with a market capitalization of $1.92 trillion.

However, Bitcoin ETFs saw significant outflows on Monday, with a total of $284 million withdrawn. Fidelity was the largest contributor, selling $113 million of its Bitcoin ETF.

Additionally, Ark and 21Shares combined to generate $92 million in sales. These withdrawals have raised concerns about potential price pressure on Bitcoin in the short term.