- BTCChina’s co-founder is not worried about Bitcoin collapse.
- The market enters the short-term recovery phase.
A co-founder of BTCChina and a board member of BTC Foundation Bobby Lee speculates gave a joking answer to one of the most popular questions in the modern crypto community.
“When is a good time to buy #Bitcoin? If you want to FEEL GOOD, buy it when prices rise fast when everyone is happy. This is #FOMO, so you’re paying high prices. However, if you want LOW PRICES, then you have to buy when the market is down/crashing. Not fun & can feel lonely!”
That’s what he wrote in his Twitter account, addressing the speculations on “where from here,” “when to the moon” and “is Bitcoin dead” – all in one short message.
Basically, Mr. Lee promotes the idea of holding Bitcoin as an asset with long-term value, as opposed to a speculative tool for a quick profit.
In a separate message, he compared Bitcoin to electricity or Internet and explained, why he was not worried by the price collapse.
“This is why #Bitcoin’s recent price volatility (crash?) does NOT bother me much. I fully believe that #Bitcoin will become a permanent fixture of humanity, just like #electricity and the #Internet. (Just, unfortunately, it’ll take decades for people to realize that.)”
Meanwhile, BC/USD is recovering from the recent lows. The coin No.1 is trading marginally above $3,900 at the time of writing, gaining 2% since the beginning of Tuesday. We need to regain the ground above $4,000 to mitigate the immediate bearish pressure.
BTC/USD, 15-min chart