- Crypto Trader Alex Kruger shared his perspective of the Bitcoin’s Collapse on his twitter handle
- Alex concluded that the movement of Bitcoin in both directions is not a problem, but Crypto’s asset is just walking in a black swan event.
- Being a trader of Crypto assets, he also shared an optimistic approach to Bitcoin.
Long term economist and Crypto Trader Alex Kruger shared his perspective of the Bitcoin’s Collapse on his twitter handle. He pointed out that the Bitcoin Maximalists were utterly wrong on the prediction of Bitcoin in this run. He voted that Bitcoin was neither a store of value nor a safe-haven for investment class but instead collapsed, which decreased its market value to 60%.
Bitcoin maximalists were dead wrong. Bitcoin did not behave like a store of value nor a safe haven, but rather collapsed over 60%. I hear people saying $BTC is holding up well, yet no other asset (ex- some individual stocks and other cryptos) has dropped more than $BTC.
— Alex Krüger (@krugermacro) March 17, 2020
He described how Bitcoin enthusiasts and market watchers were sharing false hope saying that BTC is holding up very well. Still, Alex Kruger was convinced that no other crypto-assets and some stocks and commodities had dropped more than BTC has in this trend.
Is Alex still Optimistic about the trend?
Alex compared Bitcoin’s movement with centralized assets such as stocks, bonds, and Government’s economic aid packages, which the people denounced it enthusiastically. Alex reported that these Government aided packages were performing much better than and showed higher signs of Bulls than BTC in both long term and short term.
Being a trader of Crypto assets, he also shared an optimistic approach to Bitcoin. He stated that the best possible turns for BTC could happen only if the current Governments overspend their assets and lose control over the economy to which Alex believes this trend is already in play. The observation made in the past week till now has been incredible, he concluded that the movement of Bitcoin in both directions is not a problem, but Crypto asset is just walking in a black swan event.
Alex’s fellow crypto traders and followers on Twitter were left in the state of confusion by seeing the perspective change of Alex on his single post, but as a trader and crypto enthusiast showing a straight direction is important than leaving the turf in the mid-run. This trend cannot be finalized as, in general, the whole market is crashing, and individuals should wait for the best.