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Edward Snowden: Right now is the time I want to "Buy the dip" Bitcoin

Edward Snowden: Right now is the time I want

After the flash cash incident of Bitcoin (BTC), Edward Snowden – a famous American accuser, said he wanted to “buy the dip”.

In one tweet Published on March 13, Snowden – famous for copying and leaking top secret information from the U.S. National Security Agency in 2013, wrote:

"This is the first time I feel like buying 'buy the dip' Bitcoin. That decline has so much panic and extremely little reason. "

Note: 'Buy the dip' is a term that describes buying an asset immediately after a sharp price drop.

Investors panicked

Snowden's comment came after Bitcoin recorded a record decline in a day today – falling to a new yearly low of $ 3,782.

The serious decline in Bitcoin occurred at a time when markets around the world were in turmoil, when US President Donald Trump announced restrictions on travel between the United States and Europe to limit the spread of the COVID-19 virus.

On March 12, the Dow Jones and FTSE experienced the worst day since the “Black Monday” collapse in October 1987, which caused the Federal Reserve to declare action. emergency to inject 1.5 trillion USD into the national financial system.

At the same time, the oil industry was in a free fall, as Saudi Arabia and Russia fell into a price war amid a worldwide drop in demand due to the COVID-19 outbreak.

Veteran trader Peter Brandt – known for accurately predicting the catastrophic price drop from Bitcoin's peak of $ 20,000 in 2017, made his views on the BTC market on March 12. He said:

“When looking at Bitcoin's chart, if judging unbiased, I think its bottom will be below $ 1,000.”

Unsurprisingly, Snowden's comments received two mixed reviews on social media, with both supportive and satirical comments.

Snowden and the cryptocurrency

Snowden's bullish view on Bitcoin may not be just opportunism in the context of a global market crash.

In March 2018, he pointed out the “digital scarcity” as the “fundamental innovation” of the coin in his speech before a hearing about the future of cryptocurrency regulation at USA.

In the fall of 2019, Snowden hinted that he could turn to Bitcoin to disrupt the US government's effort to restrict his access to profits from the publication of a book called “Permanent Record.”

However, the servers Snowden used in 2013 to leak thousands of documents to journalists were paid in Bitcoin, although he expressed concern about the cryptocurrency when describing the coin's blockchain. The king is “brutally public”.

In March 2018, he confirmed that he used Monero and reiterated his support for Zcash as the “most attractive” altcoin on the market thanks to its “unique” privacy.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

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