Andreas Antonopoulos Explained This Bitcoin Crash Two Months Ago
A space leading speaker and educator Andreas Antonopoulos expected just months ago that Bitcoin (BTC) may fall because of the economic turmoil which obvious to him, reported on 13 March 2020.
While speaking of the podcast of What Bitcoin Did on the 3rd of Jan the impact was an obvious action for Andreas Antonopoulos.
While continuing Andreas Antonopoulos explained that what most of the people don’t realize at the beginning that crypto may crash hard further he added,
“And the reason it’s going to crash tough is that a number of the task capital, corporate investments and private investment from people that are primarily based on reasonably-priced cash and disposable profits and excess coins in portfolios, etc., like in any other a part of the economy, will dry up.”
Followed by this the Bitcoin followed a taking 60% low of about $3,600 at some exchange platforms which has been the worst seen in the market since 1987.
While the other commentators are on their way to explain this phenomenon, Antonopoulos may have already served in such a scenario.
While he added to it that when people get scared about there investments and such sudden recessions they are more likely to pull back their investments and also more likely to pull back there crypto investments.
While seeing the history of the currency previously in January Bitcoin alone was requiring about $18 million of buys just as to keep up with the price parity.
To this Andreas Antonopoulos said;
“From that perspective, I feel the primary order impact that happens if we have a recession is crypto crashes as a result of all the liquidity dries up that could be a classic effect and symptom of a recession.”
Therefore according to him, Bitcoin may emerge as a safe haven, but the main relative difficulty of storing fo the non-technical investors may form hurdles in adoption and price stability.
In the last Antonopoulos concluded that;
“All of those things are really a symptom of the fact that we have a small lifeboat and a very, very large number of people who need saving.”
Previously, Mike Novogratz revealed, Investment is cautious in bitcoin
Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free
