Blockstream CEO advises against panicking amid BTC market drawdowns

During a recent downturn in the Bitcoin market, Blockstream CEO Adam Back told investors to maintain perspective. He reminded his X followers that previous Bitcoin bull markets also experienced multiple drawdowns of around 30%, noting that the current decline is 26% to 27%. Back emphasized that such fluctuations are normal and advised against panic. He also cautioned against investing in meme coins or altcoins, mentioning that Bitcoin is the only "investment grade" virtual asset.