- Tyler believes that Bitcoin will come back way stronger than anticipated from this current downtrend.
- The recent CoronaVirus pandemic has caused a global stir on the market and has created abrupt movements of assets, mostly making them fall on the negative side.
- Bitcoin took a huge drop from $9000 mark to $4500 mark on trading platforms and even some exchanges reporting Bitcoin hitting as low as $3600 mark.
The co-founder and CEO of the Gemini Exchange platform, Tyler Winklevoss, is staying optimistic on his feet when he shared the same on his Twitter account. He gave an account that Bitcoin was born in 2008 during the winter in the financial world.
Bitcoin was born in 2008, during the winter of our financial discontent. It has already weathered much to be here, and it seems unlikely to give up anytime soon. It will emerge from this current calamity stronger than ever. Decades are not measured in days.
— Tyler Winklevoss (@tylerwinklevoss) March 14, 2020
Bitcoin soon gained much attention and importance and is unlikely to give up any time soon in the upward market trend. Tyler believes that Bitcoin will come back way stronger than anticipated from this current downtrend. The American Entrepreneur has always stood strong in his statement of Bitcoin’s trend and continues to do so.
The Coronavirus Pandemic and Bitcoin
The recent CoronaVirus pandemic has caused a global stir on the market and has created abrupt movements of assets, mostly making them fall on the negative side. Bitcoin took a huge drop from $9000 mark to $4500 mark on trading platforms and even some exchanges reporting Bitcoin hitting as low as $3600 mark.
The reason behind this has been speculated by many in different versions; however, a solid one has not been made yet. Many investors to protect their assets from the crash of traditional markets and assets turned towards crypto. Still, the digital assets turned their faces downwards and showed a steep decrease in market value within hours, which left most of the investors and market watchers in confusion.
Many of them who had invested are now exiting and are ready to take on the new T-bills going to be issued by the government of the USA to facilitate the losses and neutralize them. The T-bills are covered with $1.5 Trillion worth.
Tyler specifically pointed out the financial crisis of 2008, where Bitcoin was introduced the same year. The doom struck companies on that year have mostly managed to climb from the hole strongly. Still, Bitcoin has outperformed every asset of that class, Tyler sees the same situation unfolding and predicts Bitcoin is once again going to rise against the crash. He said the last thing the investors need is a good hope.