Mike McGlone said that excessive speculation and reassessment of digital coins has an increasingly negative impact on people and can lead to serious consequences:
“Look at Dogecoin. He still has a market capitalization of $ 20 billion. It should fall to zero. The entire cryptocurrency space needs to be cleaned, as was the case with a bubble of bureaucrats. ”
According to the expert, Bitcoin should also prove his “digital gold” status. Crypto -investors will encounter a very long recovery period after the current correction, McGlone said his thought.
The overheated US stock market has become another reason for a large -scale drop in digital assets. The size of the market is disproportionate to the American economy and such a gap cannot pass without a trace, the analyst believes.
Earlier, Block Director General and Twitter Creator Jack Dorsey declaredthat bitcoin can lose its value if people stop using a coin in everyday calculations.
Source: Bits
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