Snowden Says He Was Right About Bitcoin’s Bottom In March

The most popular NSA whistleblower Edward Snowden says he was right about Bitcoin’s bottom back in March which comes as the price remained above the $19,000 level as we are reading more in today’s Bitcoin news.

America’s most popular whistleblower Edward Snowden says that in his own way, he called Bitcoin’s bottom back in March and tweeted that “bitcoin was $5,000” outlining how far it has come since the initial tweet. Snowden’s tweet came when the global market meltdown that started thanks to the coronavirus pandemic, pushed the BTC price below $5,000 and the benchmark cryptocurrency suffered its biggest price crash in more than a year as it lost $22 billion from its market cap in under 24 hours. Snowden tweeted:

“This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.”

Today I learned the dollar has lost 99.93% of its value since 2013 (relative to Bitcoin). https://t.co/txthu3YMIk

— Edward Snowden (@Snowden) December 7, 2020

The crypto started recovering fairly quickly and culminated in the ongoing price rally which eclipsed Bitcoin’s all-time high in 2017. Today, Snowden pointed out that the US dollar hasn’t fared well as its decentralized alternative:

 “I thought I knew how bad times had gotten, but then my wife told me they took the McChicken off the dollar menu. Today I learned the dollar has lost 99.93% of its value since 2013 (relative to Bitcoin).”

Bitcoin was ~$5,000. https://t.co/pbnOFGfaVf

— Edward Snowden (@Snowden) December 7, 2020

Bitcoin has more than tripled against gold since the March crash and its biggest critics remained unconvinced still. As previously reported, Snowden tweeted that he wanted to purchase BTC at the time that it hit the $4000 price range. Famous for disclosing top-secret documents that revealed the true extent of American and British global surveillance operations, Edward Snowden feels like Bitcoin is now a major buying opportunity. His comments come after the Bitcoin price news showed a new low at below $4,000 for the flagship cryptocurrency – what was commented and seen as the sharpest-ever intraday plummet where BTC touched $3,782 for a few minutes.

Also, an anonymous analyst tweeted that the BTC/USD pair is trading inside a bullish continuation structure dubbed as the “Bull Pennant” which is a pattern that forms as an asset enters a period of consolidation after a movie to the upside. The sideways trend gives bulls enough time to prepare for their strategy.