Cryptocurrency news – Cameron Winklevoss: Coronavirus will be a turning point for Bitcoin
Bitcoin (BTC) is due to coronavirus for the first time in its existence. It is the turning point. Says Cameron Winklevoss, the entrepreneur and one of the twin founders of the crypto market, Gemini. Cryptocurrency news can confirm that. Will the Stock Market crash?
Winklevoss, in his tweet this week, highlighted the importance of the global pandemic COVID-19 for Bitcoin and its users. This pandemic will be an infection point for Bitcoin and the Metaverse. “This pandemic will be a turning point for bitcoins and their universe.”
Winklevoss told his followers to hold their BTC. COnsequently, he indicated that the BTC crypto try would undergo metamorphosis under current conditions.
His optimism is also reflected in the opinions of various well-known personalities from the crypto industry. These opinions argue that bitcoins were born from a previous financial crisis. According to economists, it was even less severe than that resulting from a coronavirus pandemic. And, as the cryptocurrency news show, this could be the case.
Markets have already confirmed this theory. The unprecedented printing of money boosted the mood in the stock markets for a short while. The markets were not immediately reflected back. So far, they remain at a loss.
Analyst says oil cuts are “not enough”
This week, OPEC agreed to cut oil production by around 10%. However, there are already indications that this is not enough. According to Bloomberg data, the price structure continued to grow, despite the agreement. It may signal an excessive supply of a commodity. “Excessive supply is still too large and the market interpretation of the agreement is that this is not enough”. Said Andy Lipow, president of Lipow Oil Associates LLC, on Monday.
However, Bitcoin remains vulnerable to movements in traditional financial markets. Analysts hope that this will change and are currently focusing their attention on the next month when Bitcoin halving.
So what is the conclusion?
It is certain that, if there was ever a time when Bitcoin and other cryptocurrencies should prove their resilience to the crisis, it is now. The cryptocurrency news show. So, everyone is eagerly awaiting how the price of Bitcoin will evolve before the approaching halving. How Bitcoin will respond to any further price fluctuations in both traditional and crypto markets? Now, they are heavily distorted by the intervention of central banks. Mainly to help the economies.
The real stock market crash is yet to come, says investor whose strategy earned 4,144% in March
“When the stock market is growing, I want to have very slight losses. But when the crash comes, I want huge profits.” Says Mark Spitznagel, founder of Universa Investments. In March, it reached an appreciation of 4,144%. Spitznagel is convinced that his greatest moment of fame is yet to come.
Universal Investments’ strategy offers investors protection against market slips. Anyone who had 96.7% in the index fund, following the S&P 500 and 3.3% in the Universa Investments fund last month, would be, despite more than 12.5% fall in the S&P 500, the only unbelievable result of Universa Investments in aggregate 0.4% appreciation.
Mark Spitznagel obviously knows what he’s talking about and what he’s doing. Therefore, investors should pay more attention to their new warnings.
“If the stock market bubble does not burst due to the current pandemic, there will be something else in the end”. Spitznagel said in an interview with The Wall Street Journal. He is warning that the “real fall” of stock prices to come will erase all investors’ profits. At least over the last decade.
