Terrible Prediction! Is The Real Fall in Bitcoin (BTC) After This?

Bitcoin lost nearly $ 50 billion from its total market value in just seven days. The fear and panic that deeply hit the global markets also affected the cryptocurrency industry, and investors began to take positions in favor of cash. Some industry analysts believed that Bitcoin will jump up after this dramatic sales pressure, while Kashif Raza, CEO of Indian crypto news platform Crypto Kanoon, claimed that the price of Bitcoin could fall below $ 3,000.

Arguing that governments will have to restrict internet access or completely restrict Raza, he said this will have dramatic consequences for the digital asset markets.

“The Internet Will Be Unplugged”

Kanoon CEO drew attention in the crypto community, with a completely eerie forecast for the short and medium term future. Raza stated that for Bitcoin investors, things will not get better, on the contrary, they will get worse. the following told:

My guesses: 1. More cities will be locked; 2. People will run fiat money by selling their assets, including Bitcoin; 3. The internet will be shut down to check rumors and fake news; 4. Trade will drop because there is no internet; 5. Bitcoin will drop below $ 3,000.

Raza claims that because of the fight against the spread of the new coronavirus, more governments will declare a state of emergency (OHAL) in the country and close their doors, and now, in most parts of the world, they have taken strict measures, especially at the state of emergency, to slow the spread of the virus and prevent people from coming into contact with one another.

According to the Kanoon CEO, panic that will hit the markets will continue and people will turn to cash that they can spend on speculative assets such as stocks or Bitcoin. So far, Raza’s predictions seem reasonable enough because people are now turning to cash.

However, Raza’s remarkable claim comes after this point. According to him, the authorities will have to restrict the use of the internet to control rumors and fake news. This, of course, will lead to a great recession in the cryptocurrency market, as almost all of the digital assets are traded on online platforms. While Raza predicts that the price of Bitcoin will fall below $ 3,000 in such a scenario, he does not want to speculate on which level the price will decrease.