Have been hard days for the international markets. There is hardly any stock exchange, or reserve asset, like gold, that has not been hit by the crisis of the Coronavirus. However, within the crypto community there are still people confident in a rebound in Bitcoin when this crisis passes. Among them Raoul Pal, an analyst of the market and our Tweet of the day today.
I can not express how bullish I am on bitcoin. We are at risk of losing the entire system right now. I know they will find a way to save it but all trust is lost.Gold guys/girls – you’ll be fine too. It’s just that $BTC you have bigger upside by far but is riskier than gold— Raoul Pal (@RaoulGMI) March 19, 2020
Volatility in the Bitcoin market
Since the beginning of the health crisis generated by the Coronavirus, one of the first victims has been the confidence in the financial markets. Leading to several days of collapse on the major exchanges of the world, generating a situation that has quickly expanded to non-traditional asset like Bitcoin. Despite the fact that Bitcoin is considered usually as a active reserve of value and, therefore, it is expected that in situations such as that generated by the Coronavirus can keep its value and even increase it, the global financial instability has been such that it has managed to knock the price of shelters of value such as gold and BTC. The Coronavirus has negatively impacted the price of Bitcoin. Source: Coindesk This has led several analysts to wonder if the criptomoneda be able to survive this crisis, or if on the contrary we must prepare ourselves for a Bitcoin with a value of zero. Initiating a debate in which Raoul Pal, analyst and CEO of the Global Macro Investor has his opinion: “I Cannot express how optimistic I am with Bitcoin. We are at risk of losing the entire system at this time. I know that I will find a way to save him but all trust has been lost. Boys/girls gold – you will also be well. It’s just that $BTC has a higher profit, by a lot, but it is more risky than gold“. These statements would be in line with the views expressed by crypto influencers like Anthony Pompliano and Changpeng Zhao. Those who also believe that the face of the crisis of the Coronavirus, and despite the shock initial, Bitcoin has the potential to come back and consolidated, compared to the loss of confidence of the traditional financial system. Something similar will happen with the gold, the other active reserve value affected in the last few days. Do you believe that the Bitcoin and the gold will be okay? I leave it in the comment box!