Bitcoin’s drop from $64K comparable to Black Thursday, but Coinbase outflows hint at accumulation
The ongoing Bitcoin price correction draws a comparison with the March 2020 crash — with one big difference.
Elon Musk and COVID-19 have something in common: They have both panicked investors — at least once — into dumping their Bitcoin (BTC) holdings.
The similarities notched up higher in the previous six days as Musk doubled down on his chaos-inducing perspective toward Bitcoin. The billionaire entrepreneur engaged in a Twitter spat with top cryptocurrency advocates over the weekend, including podcaster Peter McCormick, as he projected his favorite token, Dogecoin (DOGE), as superior to Bitcoin.
1/ Dear @elonmusk. The perfect troll is one where people don't know whether it is a troll or not. Your recent poorly informed criticism of #bicoin + support for Doge may be the perfect troll...or you might actually believe this (God I hope not).
— Peter McCormack (@PeterMcCormack) May 16, 2021
“The future of money is digital currency.” –
Bill Gates, aka The Richest Man in the World
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