Bitcoin Price Crash: What the Experts Say

Bitcoin drops to $47,000 for the first time since March. The world’s most popular cryptocurrency reach a two month low in the past few hours and has since then got the internet shaking.

A lot of comments, views, analyses, and memes have been flying around since it hit its recent low. Some BTC believers and analysts still hold a positive view of the cryptocurrency and strongly believe in a bounce back. On the other hand, critics of the flagship currency have seen this dip as a huge opportunity to troll the crypto community.

What the Experts are Saying About This Bitcoin Crash

One of the comments that caught the attention of a lot of Twitter users was that of Changpeng Zhao, also known as CZ. The CEO of Binance is popular for his funny and controversial tweets about the leading crypto asset, Binance Coin, and other cryptocurrencies. Commenting on the situation, he said; “Contrary to what you may have been told or wish, #crypto is not a get rich quick scheme.”

Global Strategist, Peter Schiff on the other hand shares an entirely different viewpoint. The famous economist has frequently expressed his disaffection for the digital asset in his tweets and did just so once again. He commented: “If @michael_saylor is correct that the higher the #Bitcoin price rises the less risky it is to buy, then it must also be true that the lower the Bitcoin price falls the riskier it is to own. That’s an extremely dangerous characteristic for an asset to have during a bear market!”

Popular investor and BTC lover Pompliano didn’t say much. He simply posted “I just bought the dip” on his Twitter account on Friday morning.

Charlie Shrem, the founder of Bitcoin Foundation and Bitinstant who is also a fan of Bitcoin tweeted that “it is just another day in crypto.” He also shared a meme that implied that only new crypto users will be in pain at the moment.

Famous female crypto Twitter influencer, ‘Girl gone crypto’ mentioned that the dip is going to shake some weak hands and make them sell their cherished asset at a loss. Her view caught the attention of CZ who in turn retweeted her post.

Binance US on Twitter shared that this recent dip is an opportunity to buy the crypto king below $48,000 again.

Many other Twitter users have shared viral memes, videos, and comments on Bitcoin. While some may see this as the end of the Bull Run, a lot of crypto believers strongly believe it is just a market correction.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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