- The popular pseudonymous Bitcoin whale “Joe007” believes that crypto will not be unscathed in a liquidity crisis.
- Before the COVID-19 crisis, it was a saying in the crypto ecosystem that Bitcoin was immune to any macroeconomic and geopolitical matter.
- He pointed out users to get ready for a tough 20 years going forward.
The popular pseudonymous Bitcoin whale “Joe007” believes that crypto will not be unscathed in a liquidity crisis. According to the leading exchange, Bitfinex, the bitcoin trader has once made millions of dollars.
Bitcoin was an immune
Before the COVID-19 crisis, it was a saying in the crypto ecosystem that Bitcoin was immune to any macroeconomic and geopolitical matter.
According to Joe007, the small crypto, what is called ‘Puddle’ is certainly going to be affected by the crisis. To lessen the risks of the liquidity crunch that will occur in a derivative crisis. He believes to hold physical gold bars and Tether’s USDT.
With the anticipation of the derivative crisis, the trader is a keen protagonist of the feeling that the global economy is among the biggest “economic shocks” of our generation. In the meantime, Joe007 shared a UC Davis paper that highlights on the long-term economic impact of major history pandemics.
An interesting paper that sheds light on long-term economic impact of major historic pandemics. TLDR: economic reality we all lived in prior to 2020 likely ended, get ready for tough 20 years going forward.https://t.co/kjbxt6ylVd
— ʲᵒᵉ007 (@J0E007) March 29, 2020
Pandemic Associated with Successive Low Returns
Further, he pointed out users to get ready for a tough 20 years going forward. Concluded by referring to the model that the great historical pandemic of the this millennium associated with successive low returns to assets. However, it was followed by depressed investment opportunities.
After disappearing from the social media platform Twitter in early May, the Bitcoin whale had recently reappeared quoting many reasons for doing so. The key issue was to protect his trading setups. Moreover, some users find Joe077’s reason behind the sudden exit was the price of Bitcoin.
Joe007 has been famous for his bearish viewpoint on Bitcoin. He once stated that BTC will not break the $10,000 level. But, BTC struck his phenomenon and broke the level of $10,000.