Bitcoin Might Still Crash to Zero, Top Angel Investor Claims

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As a seasoned analyst with over two decades of experience in the tech and financial markets, I must admit that Jason Calacanis’ recent prediction about Bitcoin crashing to zero seems improbable, given its current market position and resilience.

Jason Calacanis, a well-known American angel investor, recently posted on social media that Bitcoin might theoretically plummet back down to zero. Yet, at the moment, such an outcome appears to be extremely improbable, with chances lower than 5%. Interestingly, Calacanis believes that due to its size and influence, Bitcoin could be considered “too significant to collapse” in today’s market.

By the end of 2018, Calacanis predicted that the likelihood of the primary cryptocurrency plummeting to zero was as much as 70%. At that time, the leading digital currency was amidst a harsh market downturn. “Remember Bitcoin is a highly manipulated currency with no rules or restrictions…. If you didn’t invest early, you’re essentially playing the part of the fool at the gambling table,” Calacanis cautioned.

Calacanis expressed surprise that Western governments hadn’t outlawed Bitcoin up until now. Additionally, he admired the resilience of the Bitcoin system, as it has so far remained unbroken by any attempts from powerful entities like nation states or hacking groups to compromise it.

According to his social media post, the angel investor openly admits to having a large amount of cryptocurrency in their possession. They stated that they initially purchased it for between $100 and $200 and have not yet sold any of it.

As a researcher in the field, I’m excited to report that earlier today, the foremost digital currency, in terms of market value, reached an unprecedented peak at approximately $81,800.

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2024-11-11 08:45