Binance CEO CZ said that everyone will have an opinion on the collapse of the market, but no one will know the exact reason for the decline.
The first reaction to the collapse of the crypto market came from Binance CEO CZ. Struggling with regulatory pressures, the stock market boss said no one knows exactly the reason behind these declines.
CZ stated that everyone will have an opinion on market activity and these ideas will often turn out to be wrong. According to Binance’s boss, greed and fear stand out as two emotions that must be managed in this industry.
Market Statement from Binance CEO CZ
The cryptocurrency market started the day with a big drop. This decline has made crypto investors nervous. While the reasons behind the collapse were wondered, the first opinion on the subject came from Binance CEO CZ.
Why is the market is going up or down? No one really knows. A lot of people claim to know, and can often pin it on a single (often wrong) reason. In reality, there are many sellers and buyers in a market, everyone may have their own reasons. A few examples.
False narrative:… pic.twitter.com/LQDkEOK2as
— CZ 🔶 Binance (@cz_binance) June 10, 2023
Pointing to the collapse of the market, CZ stated that everyone will look for a reason for this collapse. This often leads to the wrong conclusion, according to CZ. In addition, CZ underlined that no one can know the real reason for the market crash.
CZ, who made statements on Twitter, said that behind the information pollution full of reasons, what actually happened was the market buyer and market seller.
Drawing attention to the market declines in the past days, CZ also touched on the FUD made to Binance. CZ said that in the past, allegations that Binance used user funds were on the agenda and this was attributed to the market crash.
In addition, CZ pointed out that Robinhood will cut support for altcoins and the news feeds about Asia’s supportive stance in the face of US bans.
Pointing to all these market reasons, the stock market boss said that investors should actually manage their feelings of greed and fear.
