A lot has happened in the first months of 2020: the Coronavirus, the FED injects a huge amount of money into the economy and the crypto markets lose everything they have earned. What role does Bitcoin (BTC) play in all of this?
The Twitter social network has always been a favorite of crypto experts to share their opinions and recommendations. So now that almost everyone is in quarantine, it has been the perfect time to engage in a debate about Bitcoin.
Is there no trust in Bitcoin?
Some experts have pointed out on social media that BTC may have to fight hard to regain the trust of its investors.
Previously experts were projecting a Bitcoin at $ 10,000 USD, however, after it hit the lows below $ 4,000, they appear to retract.
However, others have seen the situation with an optimistic look when considering it an excellent opportunity to buy. But this is not a shared opinion.
Twitter user @NoodleofBinance noted that he would not buy even because the price hit the $ 1,500 low.
In addition, the user noted that “It could take another 8 years to rebuild confidence in BTC.”
In general, the opinion of crypto users agrees that a situation like the current one pressures investors to liquidate their positions to obtain cash, a very necessary element in times of crisis.
Soon it will be time to shine
While some choose to focus on the recent misbehavior of Bitcoin’s price, others choose to look longer.
Anthony Pompliano expressed through his Twitter account: “They (the FED) are literally lowering interest rates and printing money! While Bitcoin is about to experience Halving. “
Pompliano’s intention is to point out how unusual it is to contrast the policies of the FED, which could result in imbalances in the economy, versus BTC, which is about to be halved to control inflation.
Imagine if you printed $ 700 billion USD to help the homeless, pay student loans, or even cure some diseases. No, that is not worth it. Are some wealthy people losing money? PRINT WHAT IS NECESSARY ”, Anthony Pompliano through his Twitter.
Bitcoin was born after the financial crisis precisely to avoid the bad policies that users could own their money. Now, thanks to the Coronavirus, BTC will be more useful than ever.
In fact, Tyler Winklevoss He also commented on his Twitter that Bitcoin is not a safe haven for a pandemic, it is for fiat regimes.
Thus, the Coronavirus appears to have dealt a severe blow to Bitcoin. However, government actions could soon boost it.