Renowned secret disclosure Edward Snowden appeared and said he was thinking of buying Bitcoin for the first time in a long time.
Price chart of BTC 1 month | Source: Coinmarketcap
Bitcoin is currently down about 2% on the day and is trading for around $ 5,300 after dropping a record on Dark Thursday. However, some Bitcoin believers are not pessimistic, like Edward Snowden.
Edward Snowden thinks this is a good time to buy
Edward Snowden is a famous tourist of the cryptocurrency industry. Most famous for revealing secrets about US spy programs, he fled for some time in Russia and was protected with an application for asylum. Last year, he tried to publish his book that the US government said they would confiscate any profits he earned. He thinks this has created a clear case of why we need independent, decentralized money that is beyond state control.
He is also a controversial figure, praising Zcash even though the project is not so outstanding. However, he is still a supporter of cryptocurrencies anyway.
Recently, it seems that Snowden has been paying attention to the record-breaking cryptocurrency market and thinks it's time to buy. In a tweet made on Friday, Snowden said that the drop was too much panic and too few reasons.
This is the first time in a while whilstveve felt like buying bitcoin. That drop was too much panic and too little reason.
- Edward Snowden (@Snowden) March 13, 2020
Responding to his comments were multidimensional, and the general sentiment in the market was still the extreme fear.
Is it time to buy?
It's impossible to say what the bottom of Bitcoin will be, but it's still dangerous to make clear judgments like this.
If the corona virus pandemic and the Russia-OPEC oil war are the two main catalysts for price collapse, we can see this getting worse. We are still very far away from the end of the pandemic, and are expected to be much worse based on almost all estimates. The death toll in Italy is half that of China, Spain has to blockade the whole country and America blockade Europe. The oil price war has not even happened because in April, Saudi Arabia will officially increase its production.
President Donald Trump is more worried than anyone else about the corona virus, because if the pandemic continues to go bad and negatively affects the economy, his chances of re-election are much less. Democrats always use every opportunity to criticize Trump more strongly (in fact, whatever he did, he was criticized by his opponents like he did to them before).
Is this a good time to buy Bitcoin or any other cryptocurrency? In the long run, it is likely to be a fair game. However, one should not buy any Bitcoin while it is not sure this is the bottom. The cryptocurrency world has never experienced a recession, and stocks are now officially in a bear market. Therefore, beware of everything that is not redundant.
You can see the price of Bitcoin online here.
According to BeIncrypto
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