Monday turned out to be a tough day for both cryptocurrency traders and participants in traditionalmarkets.
By the time of publication from the minimum, the cryptocurrency market won back $ 6 billion - its capitalization is $ 225 billion. Bitcoin is near the level of $ 7,900, after it dived below $ 7,700.
ETH is trading at $200 per unit, XRP at $0.209.The Dow Jones Industrial Average lost 2,000 points, marking the most negative day in the history of trading in the US market in 12 years.The S&P 500 fell 7% and oil fell 30%.
Famous participants in the cryptocurrency space could not ignore these events.
Morgan Creek Digital Partner Anthony Pompliano:
“All warning signs have been present for several months. Do not let them hang noodles on your ears as if they were a black swan. A virus is not a cause, but a catalyst. ”
Pompliano referred to his ownthe publication that he posted last July. In it, Morgan Creek Digital partner urges investors to go fiat and place a small share of their assets in bitcoin in order to prepare for the next economic downturn.
ALL THE WARNING SIGNS WERE THERE FOR MONTHS.
Don’t let them feed you the nonsense that this was a black swan.The virus isn’t the cause, it is the accelerant.
From last July: https://t.co/pZl363yMFa pic.twitter.com/Aq6MJxBzMC
- Pomp? (@APompliano) March 9, 2020
Co-founder of the Wyoming blockchain coalition Caitlin Long:
“This is not a coronavirus !!! This is the result of the fact that the Western economy has consumed more than it produced for 50 years. The virus became just a needle that pierced the debt bubble and illuminated the scale of the solvency problem. ”
THIS ISN’T #coronavirus!!!? This is result of ~50 yrs of Western economies consuming more than they produced, finally coming home to roost.The virus was just the pin that pricked the debt bubble & revealed the magnitude of the solvency problem.Stay safe out there ?
- Caitlin Long? (@CaitlinLong_) March 9, 2020
Founder of Euro Pacific Capital and Bitcoin critic Peter Schiff:
“Before halving bitcoin, two months remain, andglobal financial markets are in crisis. What other news could be more bullish for bitcoin? At the same time, price behavior cannot be more bearish than it already is. It seems like halving has overtaken the price of bitcoin! Not exactly the halving that the scouts were waiting for. ”
With the #Bitcoin halving just two months away and global financial markets in turmoil, the news couldn’t be more bullish for Bitcoin.Yet the price action couldn’t be more bearish. Looks like it’s Bitcoin’s price that will be halved!Not exactly the halving hodlers expected.
- Peter Schiff (@PeterSchiff) March 9, 2020
Block Tower Capital Investment Director Ari Paul:
“Bitcoin is not a safe asset (yet). I have always said that it will go down in the event of a major sale on the stock market. In truth, I am extremely surprised at how well he holds. Bitcoin since the beginning of the year grew by 7%, shares fell 15%. We’ll see what happens next, but this is excellent behavior for a risky asset. ”
BTC isn’t a safe haven (yet). I’ve always predicted it would decline with a big equity sell off.Frankly, I’m very surprised at how well it’s held up.BTC up 7% on the year with equities down ~15%.We’ll have to see what happens, but darn good performance for a risky asset.
- Ari Paul ⛓️ (@AriDavidPaul) March 9, 2020
Managing Partner of MultiCoin Capital Tushar Jain:
“I think the price of bitcoin was collapsed by traditional hedge funds that had BTC and had to sell all the liquidity in order to raise money to cover other positions.”
I think this drop in crypto prices is from the traditional hedge funds who held some BTC and are being forced to sell anything liquid to raise cash to cover their positions elsewhere.
Remember to be greedy when others are fearful…
- Tushar Jain (@TusharJain_) March 9, 2020
Coinbase CEO Brian Armstrong:
“I am surprised at the fall of bitcoin in these conditions. I expected the opposite. ”
</p>Surprised we’re seeing the Bitcoin price fall in this environment, would have expected the opposite.
- Brian Armstrong (@brian_armstrong) March 9, 2020
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