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# Changpeng Zhao Is Still Optimistic About Bitcoin Despite the Market Downturn; Here’s the Reason
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Changpeng Zhao, also known as CZ in the cryptocurrency community, used his official X social media account to share his thoughts on the current state of the cryptocurrency market with the public.
He is still upbeat about the situation, which is surprising given the sharp decline in Bitcoin.
## CZ Is Still Very Optimistic About Crypto and Bitcoin
CZ commented on an X post by a cryptocurrency enthusiast with the handle @Spigg1115, who emphasized that there is no need to worry right now even though the cryptocurrency market is losing a lot of money.
This user reminded everyone that Bitcoin and other significant cryptocurrencies (ETH, BNB, BTC, and SOL were the only ones he mentioned) were trading at considerably lower values a year ago than they are now.
He pointed out that Bitcoin was valued at $54,000, BNB was trading at $401 per coin, and SOL was at $109. According to CoinMarketCap, Bitcoin is currently trading at $89,214 following a significant 8% decline; BNB is valued at $610, and SOL is at $140.89.
Ethereum, the second-largest cryptocurrency in terms of market capitalization after BTC, is the only exception. It was trading at $3,178 a year ago today, but it is now priced at $2,424.
Changpeng Zhao reposted the post, supplementing it with a microscope and a telescope emoticon. Thus, CZ seeks to convey to the crypto society the idea of perceiving the market from the correct angle, considering both the immediate and distant future.
