Yesterday, the crypto market went through one of the most complicated moments in its history, after a spectacular drop in the price of Bitcoin brought all cryptocurrencies to their knees. However, when the smoke begins to dissipate, and the market gets back on its feet, Edward Snowden tells us that he is in the mood to “buy Bitcoins.”
Seldom has this generation seen a market fall and rise so fast. And it is that, when the third day of the collapse of the international financial market wreaked havoc on the world’s stock markets, assets such as Bitcoin and gold, despite being normally accepted as examples of value reserves, also collapsed.
Yesterday, the accumulated loss in the price of Bitcoin came to be around 50% of its value at the start of the day. In a few hours, it went from $ 7,547 per BTC to $ 3,950. This represented one of the sharpest and most sudden collapses in the crypto market.
This collapse in all traditional and non-traditional financial markets, had its origin in the advance of the Coronavirus worldwide. Along with all the distortions that this disease causes in the economy.
Which generate panic in investors, who see a recession caused by the virus as a fact for their investment decisions.
Snowden didn’t panic
However, not everyone panicked from the collapse caused by the Coronavirus. Conversely, a good portion of members of the crypto community expressed confidence in the strength of their Bitcoin investment.
Some even commented that, after a drop as strong as that suffered yesterday, the rebound in the price of Bitcoin offered opportunities for profit that could not be missed.
Among those who see things this way is Edward Snowden. The former intelligence analyst with the United States National Security Agency. Who declared that:
“This is the first time in a time that I have felt like buying Bitcoin. That fall was too much panic and too little reason. “
This position would be consistent with Snowden’s previous statements about Blockchain technology and cryptocurrencies. Considering the latter one of the greatest advances in recent times. And recognizing that he himself would be a user of Monero and defender of ZCash, due to the privacy that these coins offer.
Also, Snowden would agree with the opinion of several of the most important traders in the crypto world. Which saw the opportunity presented yesterday to buy cheap Bitcoins, waiting for the rebound that has finally placed BTC at $ 5,611.
Keep in mind that it was below its opening price yesterday, but well above the $ 3,950 it came to cost. This being our Today’s Data here at CryptoTrend.