With the price of Bitcoin hovering around $16,500, Edward Snowden tweeted on Monday, ‘for the first time in a while, I’m starting to feel the itch to scale back in.’
“There’s still a lot of trouble ahead,” the former NSA and CIA operative emphasized as a disclaimer.
In his post on Twitter, Snowden included a Bitcoin price chart indicating the last time he had made a declaration along those lines. He said that after “Black Thursday” in March 2020, when Bitcoin increased from $3000 to $64,000 in under a year, he “felt like buying Bitcoin.” Following his tweet on Monday, Snowden emphasized, “This is actually not financial advice since I have zero financial education and no idea what I’m doing.”
What was Snowden’s previous price prediction?
A price chart that Snowden included with his tweet depicts the last time he made a comparable Bitcoin forecast close to the bottom of a bear market.
He tweeted on March 13, 2020, the day the price of Bitcoin plunged to $3,782 in the historic covid collapse, “This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.”
He was correct, as Bitcoin soared to its all-time high of $69,000 in November 2021 after receiving that liquidity, reaching $65,000 in May 2021.
Now that the worst of the crypto winter is gone, his intuition is telling him that it’s a good time to purchase Bitcoin barring any “trouble”—possibly some sideways chop and consolidation. In his customary modest manner, he added a follow-up tweet that said, “This is not financial advice and I have no idea what I’m doing.”
