After the recent crash in the cryptocurrency market, Twitter Inc. Jack Dorsey, founder and avid Bitcoin bull, predicts that the price of the leading crypto Bitcoin (BTC) will rise again.
Jack Dorsey continues to believe in the leading crypto Bitcoin!
The hard hit of the crypto money market seems to have given its opponents serious trump cards. The former Twitter CEO, known as an ardent Bitcoin advocate, has also been the target of adversaries. One of Bitcoin bull Jack Dorsey’s followers, named Tom Philpott, made an ironic tweet on Friday about Bitcoin’s recent decline and how Jack Dorsey is focusing his attention on non-BTC issues.
It’s fascinating to see Bitcoin boy Jack tweeting so much about Kendrick Lamar while Bitcoin is burning.
Fascinating to see #bitcoin boy @jack tweeting so much about Kendrick Lamar while #Bitcoin burns.
— Tom Philpott (@tomphilpott) May 13, 2022
Tom Philpott’s “when the house was on fire he.. combed his hair” Jack Dorsey responded to the tweet, saying that he did not look at the collapsing Bitcoin price and was confident that the BTC price would return. Jack Dorsey also said that it will always gain in value in the long run as more people can use it.
I don't watch the price. I know it will always gain in value over the long term as more people are able to use it.
— jack (@jack) May 13, 2022
Bitcoin (BTC) price performance
Inflation figures began to rise in many countries of the world, especially in the USA, with the effect of monetary expansion. Risky assets, primarily the cryptocurrency markets, were hit hard when the Federal Reserve added quantitative tightening (QT) to the tightening measures it started with interest rate hikes to contain inflation that climbed to historic highs and increased the hawk tone. As you can follow from
Kriptokoin.com news, altcoin projects, the leading crypto Bitcoin, witnessed sharp price movements as if falling off a cliff. In fact, the prices of some projects were almost zero. In the process, the Bitcoin price has fallen by about 58% from the all-time high of $69,000 that it saw last November. Although BTC fell to $ 25 thousand on some exchanges, it partially recovered afterwards.
However, many analysts predict that Bitcoin could drop to $20,000 sometime this year. At the time of writing, the leading crypto was trading at $29,340, losing 2.24% on a daily basis, according to CoinMarketCap data.
