World markets are not in a fever for the first day. Oil is getting cheaper, economies are snapping at the seams. Large companies suffer multi-billion dollar losses due to quarantine, and even large IT conferences are disrupted due to the same virus. Someone thought that the situation would allow cheaper digital assets to rise to the surface. But that did not happen. Moreover, investors began to actively sell bitcoin and altcoins. As a result, the BTC rate collapsed to a record low in a few days.
Will it be worse?
The head of the exchange Bitmex believes that BTC will not fall in price to $ 3,000. However, he made a statement when the crypt cost $ 6,000. If you trace how the value of the most popular crypto asset has changed over the past two to three months, and how suddenly and dramatically everything has changed, you can safely send most of the market analysts on a well-deserved rest. Almost no one guessed. And how could one predict the CoVid-19 pandemic or the failure of the transaction with OPEC? Yes, and the manipulation of the financial pyramid, too, is unlikely anyone would have guessed, giving specific numbers for March 2020.
Speaking of analysts. Peter Brandt believes that the price of bitcoin may drop to $ 1,000 per coin. What will happen in this case?
• Mining will cease to be profitable, while miners and holders of large pools themselves will remain out of work.
• Investors and cryptocurrency exchanges will receive huge losses. First of all, we are talking about those who bought cryptocurrency in 2018 – 2020.
• Anyone who wants to buy coins at a bargain price will get this opportunity for further speculation in the market.
Should Brandt be trusted? After all, not so long ago he predicted that BTC would cost 140 thousand dollars.
But here you should make a discount on the non-standard situation. Usually, when prices for classic assets, for example, shares of corporations, fall, investors transfer funds to crypto. But this year, the correlation between the stock and cryptocurrency markets is palpable. So the global economy can face serious shocks. Perhaps a new crisis will become more dangerous for her than the one that occurred in 2008.