Changpeng Zhao, the CEO of Binance, whose initials are “CZ,” recently reaffirmed bitcoin’s resilience in the face of the current Cryptocurrency Winter and the crypto skeptics attempting to bring it down. He mad it clear that cryptocurrency remains resilient despite past and present obstacles on its path to widespread adoption.

He specifically stated three key elements to back up his claim that BTC is here to stay. Initially, he stressed that, despite a prolonged down market, the bitcoin community is still active and engaged.

Second, he underlined that bitcoin has survived previous problems and setbacks, such as the collapse of Mt. Gox and China’s exchange crackdown, and is therefore likely to weather the current storm.

CZ believes that BTC has become stronger as a result of each of these challenges, and that the cryptocurrency’s prolonged price fluctuation is an evidence of its strength and durability.

Despite the current challenges, CZ reiterated his belief that BTC is still alive and well.

CZ comments on Bitcoin’s resilience

Despite the terror brought on by the most recent capitulation event in the cryptocurrency sector, which has beaten the currency to deeper lows, Binance CEO Changpeng Zhao declared in a tweet on Sunday, “#bitcoin is not dead. We are still here”.

The fear, uncertainty, and doubt sparked by the most recent futures exchange (FTX) collapse also coincides with CZ’s comments.

CZ’s tweets come at a time when many in the crypto community are feeling discouraged by the recent string of bad news. The FTX collapse has caused many to question whether or not BTC is still a viable investment.

However, CZ’s tweets serve as a reminder that even though the market may be experiencing some turbulence, BTC is still here and is still being embraced by major companies such as Binance.

Michael Saylor, co-founder of MicroStrategy and noted BTC realist, had a positive response to Changpeng’s statement and stressed bitcoin’s importance in the movement to improve the world. Saylor continued by saying BTC is immortal, incorruptible, and perts c. In his opinion, this is a solid foundation from which to build a more equitable society.

Both Saylor and Zhao have emphasized Bitcoin’s potential as a force for good in their speeches. BTC has the potential to make the world a more open and libertarian place due to its invulnerability to government censorship and its use as a safe haven for monetary value.

It seems conceivable that BTC will play an increasingly significant role in fostering global growth as more people and organizations come to grasp its potential.

A Bitcoin Revival is coming

Brad Garlinghouse, the CEO of Ripple, recently appeared on CNBC’s Squawk Box to discuss the current state of the cryptocurrency industry. While acknowledging that the sector has faced challenges in recent months, Garlinghouse remains optimistic about its future.

“The crypto market is not always ‘sunshine and roses,'” he said. “Periodic downturns are not unusual.

Despite the current crisis, I believe that the industry will revive.” Garlinghouse went on to discuss some of the steps that Ripple is taking to ensure its long-term success. Overall, his remarks painted a picture of an industry that is resilient and adaptable, with a bright future ahead.

Amidst the panic that has gripped the markets in recent weeks, Bitcoin and other coins in the cryptocurrency market have been hammered to frightening lows. Currently, BTC is trading at a level last seen in November 2020, valued at $16,000.

Nevertheless, this wouldn’t be the asset’s first catastrophe; comparable events occurred in earlier market downturns, and the markets had recovered subsequently. For example, in March of 2020, when the COVID-19 pandemic first caused widespread panic and a downturn in global markets, BTC fell to a low of $4,826.

However, by December of that same year, the digital currency had surged to an all-time high of $29,000. Similarly, in 2018, BTC experienced a sharp decline from its peak value of nearly $20,000 to a low of around $3,100. Once again, though, the market eventually recovered and even surpassed its previous highs.

This historical data indicates that there is reason to believe that the current market decline is only temporary and that the cryptocurrency market will eventually rebound.