Bitcoin plummets to a historic low. What do foreign communities think?

Bitcoin has plummeted again! Although plummeting is not uncommon in the 12-year history of Bitcoin, a plummet like this is unprecedented. I woke up this morning and opened the APP to check the market, and I was still shocked. The mainstream currencies all fell by more than 40%. I have seen several collective declines of 20%+, or even 30%+, but this "halving" style plummet is the first time I have seen it.

Faced with such a sharp drop, what do foreign communities think?

Josh Jordan @NumbersMuncher:

“For the past few years, I’ve been told that when the government loses control, the only currency is gold or Bitcoin. It turns out the only currency that matters is toilet paper.”

Vijay Boyapati@real_vijay:

“The coins of the big Bitcoin holders who are selling will fall into the hands of those who believe in Bitcoin, and they will create a foundation and lay the foundation for the next surge.”

Tuur Demeester@TuurDemeester:

“Even though I’ve been playing Bitcoin for a long time and my bullishness hasn’t wavered, I still feel anxious seeing this brutal 1 day. Sitting still is probably the hardest thing.”

bitlord@Crypto_Bitlord:

“When it bounces, it will bounce so hard, not even gravity can hold it back. Until then, my advice is to HODL if you plan to buy more for the long term. If it goes to zero, just go with it. Whatever happens don’t panic, and most importantly, enjoy the ride. That’s #Bitcoin.”

The Crypto Dog@TheCryptoDog:

“Please note: this is indeed a blow to confidence in Bitcoin and the entire surrounding industry. But it will soon heal. In these unprecedented times, this is a truly unprecedented drop.”

Tracy Alloway@tracyalloway:

“People used to say Bitcoin was an uncorrelated asset, and I tended to agree. But the US stock market fell 27% in three weeks, and Bitcoin fell 32% in just one day. I totally disagree now!”

Yano@JasonYanowitz:

“In the 11 years since the last recession, Bitcoin has gone from $0 to as high as $20,000. Bitcoin has created an entire industry. It has changed the lives of millions of people. I am excited to see Bitcoin and the entire industry weather this recession and emerge stronger than ever.”

Doug Polk @DougPolkPoker

"It feels so eerie today.

• Coronavirus cases surge

• NBA/NHL/MLB/NCAA, all postponed/cancelled

• The US stock market crashed severely until 2009

• Bitcoin loses almost half its value in one day

• There's been thunder in Las Vegas

• It feels like the end of the world.”

GRANDMASTER CO฿IE@CryptoCobain：

“Can’t wait to buy triple digits of Bitcoin again. Just like the good old days.”

Doctor Doom Nouriel Roubini@Nouriel:

“Shitcoin, shit show: Shitcoin Bitcoin is down 40% in the last 24 hours while the US stock market is down 10%. So Bitcoin is down over 4x more than stocks. Only complete idiots, self-interested scammers, liars, criminals, charlatans, scammers would peddle and invest in this cesspool garbage!”

Gold supporter Peter Schiff @PeterSchiff:

“With #Bitcoin falling below $4,000, I don’t feel bad about losing all my Bitcoin (which I lost because of my own mistakes). At the rate my lost Bitcoin will soon lose value, the difference between owning Bitcoin and not owning any Bitcoin will become insignificant.”

David@dmlayt:

“For some reason I’m more bullish than ever on #bitcoin. Maybe it’s the buy/sell ratio, maybe it’s the nostalgia of the last time I saw $4k BTC, maybe it’s because the fundamentals haven’t changed. I just feel pretty bullish”

It is worth noting that even gold, which is regarded as the first choice for safe haven, has lost ground today under the fear of the global economic crisis, with a drop of more than 3%. From the analysis point of view, the collapse of the crypto market was affected by multiple unfavorable factors at the same time, including the global nature of the new coronavirus, the Middle East and Russia oil war, the plummeting U.S. stock market, etc. However, Bitcoin was born in the last economic crisis, born in darkness, grew in darkness, and will eventually stand in the light.