Home
News
- The whole world is in the state of panic and pandemic as the waves of COVID-19 have engulfed most of the countries, Amidst all this, the price of Bitcoin suddenly fell to around $6,000.
- Founder and CEO of Factor LLC, Trading Legend Peter L.Brandt took to twitter to express some of his concerns regarding the same.
- Peter Brandt says that if Bitcoin can’t rally on this then it is in big trouble.
The whole world is in the state of panic and pandemic as the waves of COVID-19 have engulfed most of the countries. The number of active cases is at an all-time high and all the countries are taking in donations via all the methods possible. Amidst all this, the price of Bitcoin suddenly fell to around $6,000. Does this say something about the future of cryptocurrencies?
WHAT DO THE EXPERTS HAVE TO SAY!
Founder and CEO of Factor LLC, Trading Legend Peter L.Brandt took to twitter to express some of his concerns regarding the same. Amidst Coronavirus’ fear, market dive down, not just stocks but gold and notes too.
The U.S. Congress is in a time capsule sent from the 1930s
— Peter Brandt (@PeterLBrandt) March 27, 2020
Price action late Friday was:
Notes — we're headed to negative rates
Gold — look out above
Stocks — pathetic
He believes that the time for Bitcoin to come to the forefront is running out. He says that if Bitcoin can’t rally on this then it is in big trouble. Since it was affected by the coronavirus pandemic almost equally as other assets and markets, the ideology of its inception. Thus Mr.Brandt believes that this is the perfect time for bitcoin to show up and prove why it came in the picture in the first place.
For BTC, this is the perfect storm.
— Peter Brandt (@PeterLBrandt) March 27, 2020
If Bitcoin cannot rally on this, then crypto is in BIG trouble.
THE PREDICTIONS
The cryptocurrency must cope up with the conditions to assert its worth. These are mad times that we are living in. Even though Bitcoin might rise up to around $6800-$7000 by increasing selling activities, it is becoming volatile hour by hour. A recent BitMEX study also stated that Bitcoin could be compared to the biggest opportunity it has seen during its short life.
While countries like Italy and Netherlands which are at the epicenter of COVID-19 pandemic are accepting donations through their Red Cross Society in the form of Bitcoin, some countries aren’t too impressed by it. This might be the perfect time for Bitcoin to come out of the closet and show the true purpose of its inception. The biggest test and opportunity of Bitcoin, which is short-lived, has come with unprecedented monetary expansion policies.
