Advertisement
AD

Main navigation

Jack Dorsey Names Reason for Next Bitcoin Price Surge

Advertisement
Sat, 14/05/2022 - 10:55
Jack Dorsey Names Reason for Next Bitcoin Price Surge
Cover image via www.youtube.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents
Advertisement

Billionaire and prominent Bitcoin evangelist Jack Dorsey, who co-founded Twitter and was its chief executive until 29 November last year, has taken to Twitter to share why he believes that Bitcoin price will again rise in the future after the recent plunge.

Jack knows what will push BTC up again

Jack responded to a tweet from Tom Philpott – the author of the “Military Update” column in US media and author of a few non-fiction books. Philpott rebuked Dorsey that rather than watching and commenting “Bitcoin burning” at the moment, Jack has been tweeting about rapper Kendrick Lamar, his new album and the upcoming tour to support it.

Dorsey responded that he is not looking at the collapsing Bitcoin price at the moment. He is definite that BTC will always rise again in the long term. The reason for his confidence is the growing adoption of BTC as “more people are able to use it”.

Related
Biggest Bitcoin ETF in Canada Absorbs 6,900 BTC – Largest Inflow So Far

Bitcoin price declines heavily

Bitcoin and the whole cryptocurrency market have been in a massive decline this month. First, on May 4, the Fed Reserve announced the largest rate hike in 22 years, raising the rate by half a basis point.

After a small impulse, that pushed Bitcoin from the $39,000 level down to the $31,000 area.

BTCpriceJackDorsey_00
Image via CoinMarketCap

The second blow came from where nobody expected it to come – Terra’s coins UST and LUNA crashed.

The UST algorithmic stablecoin lost its USD peg and is trading at $0.2264 (down by 32 percent in the past 24 hours). The native token LUNA is changing hands below zero – at $0.0004774, dropping 1,185 percent since last morning. Terra blockchain has been halted.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD