Gold advocate Peter Schiff urged bitcoiners to open their eyes to a possible collapse.
Dennis Porter asked users to stay calm and remember the recent all-time high.
In the last 24 hours, bitcoin (BTC) has fallen by around 2.7%, remaining well below its all-time high reached on October 6, when its price exceeded $126,000 (USD). At the time of writing this note, Satoshi Nakamoto’s creation is trading at USD 103,681, a drop that has generated several comments in the community: some interpret the movement as a sign of extreme fear, while others call for calm.
Part of the recent fall in BTC, as reported by CriptoNoticias, is due to the stoppage of spending by the United States federal government, which for more than a month has generated a contraction in the liquidity of the financial system.
Investor and analyst Fred Krueger was one of the first to pronouncesummarizing the feelings of the most optimistic with a short phrase: “Extreme fear = extreme opportunity.” His vision reflects that Moments of panic can mark attractive entry points into the marketa view shared by many bitcoin advocates.
Along the same lines, entrepreneur and BTC promoter Samson Mow ironized about the fear that the current bullish cycle has come to an end. “It would be funny if people sold out of fear that the four-year cycle has already peaked, only to see bitcoin skyrocket over the next 12 months!” he commented, hinting that there could still be room for new bullish momentum.
Between optimism and skepticism
The truth is that not everyone shares the enthusiasm. Renowned gold advocate Peter Schiff, CEO of Euro Pacific Capital, manifested: «Bitcoiners are in denial. Wake up and smell the tulips.
With this expression, the businessman alludes to the “tulip crisis” of the 17th century in the Netherlands, a historical episode of extreme speculation, suggesting that bitcoin could be experiencing something similar.
For his part, Changpeng Zhao (CZ), former CEO of Binance, attributed the current tension to the spread of unfounded rumors: “There is a lot of FUD [acrónimo en inglés que significa miedo, incertidumbre y duda] random on the market. People are nervous, anxious. “The whales take advantage of that, spread even more FUD and profit.”
Thus, zhao urged users to resort to official sources of information before making hasty decisions.
The executive director of Satoshi Action Fund, Dennis Porter, also called for calm in the face of volatility in the environment. «It’s crazy how negative the perception is about bitcoin right now. Less than 30 days ago it reached an all-time high! “Everyone should relax, breathe, and be grateful for the opportunity to buy more BTC for under $250,000,” express.
It is important to remember that, despite the optimistic tone of some specialists, Your enthusiasm does not guarantee a price increase. There is also no certainty that historical recovery patterns will be repeated in this cycle. In a context of high volatility, prudence remains essential: each investor must carry out their own research and evaluate the risks before making decisions.