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August 7, 2020
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Bitcoin

Bitcoin can get hit during a crisis, says Joe007 Blocksats

Well-known in the world of Twitter, Joe007, who recently returned to this portal after a break of almost two months, says that he will invest in Stablecoin Tethera (USDT) and gold bars. However, this is his contingency plan in the event of a larger scale economic crisis.

Derivative crisis

Notes that current estimates of the nominal value of global derivatives are around USD 1 billion, more than 4000 times more than the current capitalization of the cryptocurrency market.

Did you know that the highest estimate of the global reference value of derivatives is USD 1 billion? That’s 4000 times more than the current market value of cryptocurrencies to show you a slightly broader perspective – he wrote on Twitter.

He also referred to the report he linked up Visual Capitalist. This graphic shows the levels at which modern markets are.

The graphics showed one thing: how small the market is for cryptocurrencies compared to “old markets”.

Joe007 believes that if a derivative crisis begins, it will also hit cryptocurrencies strongly.

Bitcoin’s future

He is also surprisingly skeptical about BTC’s near future. He thinks that “If the course cycle worked the same way as before”, level about 50% the previous ATH (i.e. the place where we are now, about USD 10,000) would be a reasonable level for the consolidation phase. It’s just that he thinks this one “Consolidation phase distorted” because of what happened after the bubble, everything that was “Lever driven”. – We are in unknown waters – added.

Joe has long believed, however, that Bitcoin can be more than a currency and called it “Non-political, non-confiscate, self-sufficient, very hard money”, which will have an impact on society over time.

The highest price for 1 BTC in history is exactly 20 089 USD. At the time of writing, the cryptocurrency price was around USD 9,200.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: course Bitcoin and cryptocurrency course on Bitcoin.pl. A place where you can buy Bitcoin and other kryptowaluty, include cryptocurrency exchange BitBay.net. If you don’t have a BitBay account yet, this article will show you how to create one efficiently: LINK.

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