The last few weeks, there has been a price chaos in the world of Bitcoin. A hashrate decline was very fast, then followed by a drastic price decline. Very surprising something like this happened 2 months before halving Bitcoin began.
The most popular bitcoin narrative always tries to describe it as new gold. However, this time Bitcoin has escaped the narrative by following the traditional market trajectory.
Phil Salter argues about Bitcoin during critical times of the world economy along with the Cointelegraph. Salter believes:
“If this economic crisis can be overcome, it won’t have big implications for Bitcoin. However, if there is a further real collapse and it gets worse, then interest in Bitcoin will explode. BTC will again be seen as a hedge against the banking system. The more skepticism in the old economy, the more that will get into Bitcoin. “