CZ: If You Can’t Hold On, You Won’t Get Rich

Once during a significant downturn in the crypto market, Changpeng Zhao (CZ), Binance former CEO, twitted a phrase that resonated deeply: If you can’t hold on, you won’t get rich. It was a simple, yet powerful message that inspired many cryptocurrency enthusiasts to continue holding their crypto assets. Many of them got rich thanks to this policy. He reminded market participants of a basic investment principle frequently overlooked by crypto holders. Panic is common during market crashes. Traders often lose control of their emotions and sell off their holdings. As a result, losses are inevitable. 

If you can’t tolerate the intense ups and downs in a highly volatile cryptocurrency market, it might not be the right place for your investments. However, those who understand how the crypto market works embrace this volatility and often find themselves rewarded in the long run. CZ’s advice to “hold on” has become a timeless classic that users revisit whether they feel tense. It can be hard to endure short-term losses, especially when the bigger picture is unclear. Faith in the potential of blockchain technology often helps investors persevere. But faith shouldn’t be blind.  

Historically, the crypto market has shown a remarkable ability to recover after crashes. During these recoveries, new all-time highs are achieved. 

CZ's words also underline the psychological aspect of investing. Along with knowledge of the market, it’s equally important to have emotional discipline and think strategically to resist FOMO (fear of missing out). 

It may sound like a paradox but the ability to hold on during turbulent times is decisive in the ever-changing world of cryptocurrency. This mindset usually defines success. Avoid impulsive decisions if your goal is to achieve long-term success. CZ implied that wealth in this space isn’t for the faint-hearted—it’s for those who can weather the storm.

#HoldOn #Cryptocurrency #CryptoMarket #HODL