Bitcoin is once again causing controversy. An article published by the Financial Times (FT) declares it “doomed to disappear” with a provocative estimate: BTC remains $70,000 too high. This incendiary release wasted no time in triggering a chain reaction within the crypto community.
In brief
- The Financial Times predicts the total collapse of bitcoin, causing outrage in the crypto community.
- Crypto investors are interpreting this media attack as a bullish signal for the bitcoin market.
A radical prediction from the FT shocks the Bitcoin sphere
In her column, Jemima Kelly compares the bitcoin investors to a man in free fall convinced that “everything is fine” until the fatal impact. This chilling parallel fuels an extreme prediction: a fall in the markets and a return to zero in the price of BTC. According to her, the supply of pigeons is drying up. Which suggests that no one will buy anymore an asset already overvalued.
This position contrasts with the reality of the moment. We are referring to bitcoin, the value of which remains firmly above $42,000. For many investors, these statements therefore reflect a deep misunderstanding of blockchain mechanisms and the resilience of the crypto market.
Bitcoiners fight back: between sarcasm and certainties
On X (formerly Twitter), the reactions were not long in coming. One user is ironic, for example, by declaring that we know that the bottom of the market has just been hit when the old media announce the death of bitcoin. The flagship crypto has also left the top 10 global assets. Another congratulates the FT for missing the major technological development of its time.
According to some crypto analysts, this type of statement often serves as a bottom signal. The idea? When the mainstream media proclaim the end of bitcoinit stands up. This dynamic has already been verified in 2015, 2018 and 2020. By denouncing the FT's financial analysis as archaic, the crypto community is therefore reaffirming its faith in the value of the digital asset.
Despite the criticism, this Financial Times column in any case raises a fundamental debate: does bitcoin represent a risky bet or a lasting revolution? One thing is certain: he has not finished talking about him!
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