Bitcoin – IMMINENT Breakdown to $8’700!? DavinciJ15 Doubts!!!

Contents creator doubts ... Creator Doubts Bitcoin’s Protective Status

  • Bitcoin cannot be a defensive asset

  • Cryptocurrency price will fall to $ 1000 due to global depression

  • The market has less and less positive sentiment about the future of bitcoin

International consortium of news organizations, developing transparency standards.

The owner of two of the most popular bitcoin sites decided to recall the status of cryptocurrencies amid market turbulence.

The anonymous owner of the sites and Bitcointalk under the pseudonym “CØ₿RA” reminded on his Twitter page that neither Bitcoin nor other cryptocurrencies are a means of hedging risks against the volatility of the traditional market.

The biggest investment mistake you can make is to assume Bitcoin and cryptocurrencies in general are a hedge against the traditional finance system and to naively believe Bitcoin will negate your losses from recession and stock market collapse.

– Cøbra (@CobraBitcoin) April 8, 2020

The unidentified owner of claims that people only buy cryptocurrency when they have free money to invest in something risky in times of financial stability, since in good times many can afford to take risks and try their luck.

“Nobody is going to buy BTC when they have lost their job, cannot afford their home and are trying to survive,” notes CØ₿RA.

Pseudo market

The entire cryptocurrency market is almost entirely supported by newbies, who only do what they do is jump blindly and buy assets because of the greedy expectations of future value, value based on perception, not on any utility, says the owner of the leading Bitcoin website.

At the same time, CØ₿RA believes that in the event the world economy falls into a deep depression, bitcoin can be traded in the region of $ 1000 to $ 2000.

He believes that only the most persistent hodlers will remain in the industry, and the rest will try to get out of the market when necessary, because they will need money for rent, food, keeping the business afloat, etc..

Lack of protection

By the way, not only CØ₿RA doubts the protective status of the leading cryptocurrency.

Earlier, we wrote that the head of the Binance cryptocurrency exchange Changpeng Zhao decided not to answer in the affirmative to the question regarding the protective status of bitcoin. creator doubts ...

Then the head of Binance said that instead of a “naive primitive view” about the protective status of bitcoin, it is necessary to thoroughly understand the very understanding of this status..

At the same time, researcher of the news resource The Block Larry Chermak, having studied the cryptocurrency market amid the crisis, found that bitcoin never had a protective status and is unlikely to become so.


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