Last updated on September 27, 2023 1:52 am
Google search for the phrases ‘BTC is Dead’ and ‘Bitcoin Dead’ and Will Bitcoin Ever Recover? have increased over the past few days, with critics claiming that the top cryptocurrency will never recover. The last two weeks have been brutal for Bitcoin as its price has dropped below $18,000, Lets see if Bitcoin will Ever Recover?
People should not lose faith in the cryptocurrency market
Anthony has advised investors that amidst the ongoing turmoil in the market, investors should maintain discipline, i.e. continue investing in cryptocurrencies. Citing the example of Amazon, he said that just as Amazon had recovered from the recession 20 years ago, the popular crypto coins like bitcoin and ether will also recover from this recession. Will Bitcoin Ever Recover?
Will Bitcoin Ever Recover?
In the example he said that in 2000 most of the Internet stocks were zero.
Even in the current situation, he is adding bitcoin and ether to his portfolio.
De-pegging of Terra’s UST is also the reason for the fall in BTC
Bitcoin has not seen such a drop in the last 2 years. Ether’s situation is even worse. It is trading below its highest level in 2018. In an interview with CNBC, Anthony said that there is currently an atmosphere of fear and panic in the crypto market. At present, due to the recessionary phase around the world, people are pulling out of risky investments like crypto. Anthony is considered a staunch supporter of bitcoin. He has advised investors that Bitcoin Amazon stock could prove to be the shining star of crypto.
Giving examples, he said that in 2000 most of the internet stocks were zero, but later everything was fine. Similar happened with Amazon too but it did wonders again. He said that the de-pegging of Terra’s UST and the sudden closure of Celsius Network’s withdrawal, swaps and transfers have led to a further decline in bitcoin. Anthony has advised investors to stay long even in this difficult situation.
When asked if being disciplined means buying more bitcoins, he said yes. Anthony said that
Even in the current situation, I am adding bitcoin and ether to his portfolio.
when people see this downfall in the future, they will think that they had invested in times of recession.
Will Bitcoin Ever Recover?
Yes, by analyzing its past trends and Chart analysis we can say that it will rise for sure.
Is BTC Dead ?
Not at all, BTC is not dead, in fact it is very strong and it has more HODLers than the intra day sellers.
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