Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Edward Snowden Mocks 'Crypto People Freaking Out Over Prices:' 'Is The Same It Was 7 Days Ago'

Published 13/04/2024, 08:00
© Reuters.  Edward Snowden Mocks 'Crypto People Freaking Out Over Prices:' 'Is The Same It Was 7 Days Ago'
MSTR
-
BTC/USD
-

Benzinga - Edward Snowden mocked the cryptocurrency community amid market turmoil due to heightened geopolitical risks and a risk-off sentiment among investors.

What Happened: Snowden pointed out that the price of Bitcoin (CRYPTO: BTC) has remained at the same level when considering the last week instead of just one day.

This comes amid a widespread panic among cryptocurrency enthusiasts and investors. Equity markets fell, too, after the U.S. government suggested that Iran could launch a significant attack on Israel.

Bitcoin is down 4.9% in the last 24 hours, while Dogecoin (CRYPTO: DOGE) fell 12.9% and Shiba Inu (CRYPTO: SHIB) is down 11.5%, according to Benzinga Pro.

Snowden's post mocked the crypto community’s reaction to the recent market plunge. He shared his amusement at the situation and suggested that the price of Bitcoin has not changed significantly over the past week.

See Also: Bitcoin, Ethereum, Dogecoin Dip As $250M Crypto Liquidations Strike — Analyst Cautions Fed Rate Cuts Could Fuel Downturn

He then proceeded to suggest he checked the latest Bitcoin price and humorously mentioned that he would return to watching anime.

For context, Bitcoin was trading around the $68,000 mark seven days ago. Its price is currently hovering around $67,500, which is 0.7% lower over this period.

Bitcoin price trajectory between Apr. 1 to Apr. 13, 2024

Why It Matters: Snowden’s post comes at a time when the cryptocurrency market is experiencing significant volatility. The market has been experiencing a significant downturn, with $877.8 million in liquidations in the crypto derivatives market.

Economist Peter Schiff predicted that Bitcoin ETFs will lead to its "biggest crash ever" and a potential MicroStrategy (NASDAQ:MSTR) bankruptcy.

"Rich Dad Poor Dad" author, Robert Kiyosaki, has also expressed his disinterest in Bitcoin ETFs, favoring direct ownership of assets over Wall Street's financial products.

Read Next: ‘Dogecoin Killer’ Shiba Inu’s Daily Transactions Surge 3,555%, Burn Rate Spikes To 1,465%

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Wikimedia

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.