It has been an amazing day since we see the biggies of the crypto community giving various comments as Bitcoin and other cryptocurrencies crash over the past 24 hours. BTC to USD dip has been an opportunity to go long for some; on the other hand, it has been a shorting button for the people panicking out. Two terms that have been trending throughout the social media platforms today have been:
1) Bitcoin and
However, the question lies is, are the two connected?
To answer this, we would like to throw some light on the conditions of the market worldwide after the outbreak of pandemic COVID’ 19.
#Breaking @MillerValue #Value #Investing #Stocks #Bonds #Rates #Growth #GalaxyS20 #Global We Asked For Help 2/27 #Covid_19 #Coronavirus $SPX 3000 $SPY $VIX @SaraEisen @WilfredFrost @elerianm @carlquintanilla #Saylavee #ECB #FED #BOE #PBOC #Market Had A Fever ! pic.twitter.com/cABJ3arFlr
— John M. Spallanzani (@JohnSpall247) March 13, 2020
Corona Virus Imoact on Stock Markets across the World in the last 1 month. #stock #market #coronavirus #covid19 #SweetNightOST #FridayThe13th #newzealand #indonesia #world #pandemic #covid_19 pic.twitter.com/2sikK7sur3
— Syarief Thalib #studytour #MICE #NewZealand (@syarief_thalib) March 13, 2020
Friday, the 13th happened to be the day to remember for making the investors sit back and bite their nails, while bears take off.
Just wait till tomorrow… it’s Friday, the 13th! pic.twitter.com/7WOlHXUReT
— S T (@sktfilm) March 12, 2020
Well, amidst all this, how do we rightly forget the crypto bigshots and influencers who are commenting controversially as Bitcoin price takes dramatic steps.
What if we go back to 7000 today just to make sure absolutely everyone has PTSD?#bitcoin
— Alistair Milne (@alistairmilne) March 13, 2020
Analyzing what Alistair Milne, the investor, and the Bitcoin observant said in his above tweet about Bitcoin hitting $7k today itself. Well, can’t imagine the Post Traumatic Stress Disorder of viewing the utter bottom and then again, the peak from where it dipped. Well, does he mean to say that Bitcoin has this magnificent power of turning the market from tip to toe?
Has #Bitcoin changed from last week to this? Is the network broken? Has someone hacked it?
No, Bitcoin is working, chugging along and growing! https://t.co/8oJWyLPNZP
— Charlie Shrem (@CharlieShrem) March 13, 2020
Next, we have Charlie Shrem—the Bitcoin Pioneer who is in a way supporting the BTC loyalists as he says that even though the coin is weakening, in a way it is growing and glowing, believing that the spike after this bearish run will be a scene to watch out for.
I’m no financial advisor but I do believe now is a great time to buy crypto & #Bitcoin. Since we can’t predict systematic failures & crowd panic, don’t buy w/ $ you need now, only $ you can afford to invest for 1 yr. We’ll get out of this bear & into the bull eventually!
— Justin Sun (@justinsuntron) March 13, 2020
Another bigshot adding to the positive end of the market crash is Justin Sun, CEO of Tron, stating that this happens to be the best time to invest, hold and wait until the bears turn into bulls. This shows how strongly he believes that Bitcoin will come back sooner than we think.
If I interpret the chart without bias, I would say sub $1,000
— Peter Brandt (@PeterLBrandt) March 12, 2020
Another know trader, Peter Brandt, states about Bitcoin, yet adds to the negative sentiment of the same as he believes that if the momentum continues to remain the same, BTC is likely to welcome $1,000. Wait, WHHHHAAAT! We don’t think we see bottom this soon.
Today @BKBrianKelly actually spoke about Bitcoin on @CNBC. But he lied. He said no one ever claimed Bitcoin was digital gold, or a safe haven. He claims he said people were speculating that it would become those thing in the future. That's not what he said. That's what I said!
— Peter Schiff (@PeterSchiff) March 13, 2020
Another biggie, Peter Schiff, comments and weighs the negative sentiment of the fall more after Peter Brandt as he says that no one ever claimed that Bitcoin is a digital gold or a safe haven, rather a gamble and nothing more.