by Edward Snowden mocked the cryptocurrency community amid market turmoil due to heightened geopolitical risks and a risk-off sentiment among investors.
What Happened: Snowden pointed out that the price of Bitcoin (CRYPTO: BTC) has remained at the same level when considering the last week instead of just one day.
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This comes amid a widespread panic among cryptocurrency enthusiasts and investors. Equity markets fell, too, after the U.S. government suggested that Iran could launch a significant attack on Israel.
Bitcoin is down 4.9% in the last 24 hours, while Dogecoin (CRYPTO: DOGE) fell 12.9% and Shiba Inu (CRYPTO: SHIB) is down 11.5%, according to Benzinga Pro.
Snowden’s post mocked the crypto community’s reaction to the recent market plunge. He shared his amusement at the situation and suggested that the price of Bitcoin has not changed significantly over the past week.
See Also: Bitcoin, Ethereum, Dogecoin Dip As $250M Crypto Liquidations Strike — Analyst Cautions Fed Rate Cuts Could Fuel Downturn
He then proceeded to suggest he checked the latest Bitcoin price and humorously mentioned that he would return to watching anime.
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For context, Bitcoin was trading around the $68,000 mark seven days ago. Its price is currently hovering around $67,500, which is 0.7% lower over this period.
Why It Matters: Snowden’s post comes at a time when the cryptocurrency market is experiencing significant volatility. The market has been experiencing a significant downturn, with $877.8 million in liquidations in the crypto derivatives market.
Economist Peter Schiff predicted that Bitcoin ETFs will lead to its “biggest crash ever” and a potential MicroStrategy (NASDAQ:MSTR) bankruptcy.
“Rich Dad Poor Dad” author, Robert Kiyosaki, has also expressed his disinterest in Bitcoin ETFs, favoring direct ownership of assets over Wall Street’s financial products.
Read Next: ‘Dogecoin Killer’ Shiba Inu’s Daily Transactions Surge 3,555%, Burn Rate Spikes To 1,465%
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia
