Even according to Justin Sun this would be a good time to buy bitcoins and cryptocurrency.
He said it explicitly, somehow following Edward Snowden’s less explicit suggestion.
In fact, Sun wrote it outright:
“I’m no financial advisor but I do believe now is a great time to buy crypto & #Bitcoin. Since we can’t predict systematic failures & crowd panic, don’t buy w/ $ you need now, only $ you can afford to invest for 1 yr. We’ll get out of this bear & into the bull eventually!“.
I’m no financial advisor but I do believe now is a great time to buy crypto & #Bitcoin. Since we can’t predict systematic failures & crowd panic, don’t buy w/ $ you need now, only $ you can afford to invest for 1 yr. We’ll get out of this bear & into the bull eventually!
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 13, 2020
Obviously it must be said that Justin Sun is not a disinterested person, since he is the founder of Tron and surely a good part of his personal wealth comes from the Tron project, but he is not the only one who thinks in this way.
Already yesterday the co-founder and CEO of BitMEX Arthur Hayes stated that, despite the collapse, he continues to expect that by the end of the year the price of bitcoin will return to a figure between 10,000 and 20,000 dollars and apparently many of Justin Sun’s commentators on Twitter seem to agree with this hypothesis.
Obviously there are those who believe the exact opposite, such as trader Peter Brandt, who claims that the bottom instead would not be at current levels, but at $ 1,000.
In fact, in response to a comment to one of his tweets in which a user hypothesized a bottom of the bitcoin price at $5,500, he wrote:
“If I interpret the chart without bias, I would say sub $1,000”
At these times there is a lot of uncertainty about the future of the crypto markets, and forecasts are wasted. They are not always rational and often not even disinterested.
To tell the truth it is very difficult to guess who might be right and why and the more or less explicit invitations to buy leave the time they find.
However, for example, bitcoin hashrate is still more or less at its highest level ever, and this suggests that the miners are continuing to mine exactly as they did before the collapse.
In addition, the number of daily transactions, or the number of addresses active daily, has not been affected by the price collapses at all.
