A new massive BTC buy order is in the Bitcoin news now, being made on Bitfinex and showing that the dominant coin will never drop to $0. All of this is courtesy of Alistair Milne, who is a popular crypto personality which can be often found in our daily news section.
That being said, Bitcoin can crash hard but will never end up costing $0. All of this is made possible through a massive BTC buy order from Milne, who said that he is going to buy all of it.
As tweets on July 9 showed, the entrepreneur and outspoken Bitcoin bull Alistair Milne revealed that he had placed an order for 18.52 million BTC (around $174 billion) more than the current supply on the exchange Bitfinex.
I'm buying them all at $0.01 🤣 pic.twitter.com/t2f6J6YPor
— Alistair Milne (@alistairmilne) July 9, 2020
Seen as a very tongue-in cheek gesture, this concerns Milne about Bitcoin and how (now) it won’t go for a major fall. He uploaded a screenshot of the massive BTC buy order of the Bitfinex order book, saying:
“I’m buying them all at $0.01.”
In order to complete this purchase, Milne needs the princely sum of $185,200 which is now equal to 19.7 BTC if he wants to set aside a portion of his holdings for such an event. Despite the overwhelming likelihood that Bitcoin won’t drop to anywhere near zero, this new massive BTC buy order shows increased confidence from the cryptocurrency’s bulls.
However, this does not change the fact that there are critics in the crypto space. One of them is the gold bug Peter Schiff, who still believes that Bitcoin is going down while gold will win out. Other critics include the ex-PayPal CEO Bill Harris, who in 2018 claimed that Bitcoin was destined to cost $0 – but now, rumors show that PayPal is about to integrate cryptocurrency payments.
One of the most faithful non-technical monitors of the Bitcoin sentiment comes from 99bitcoins and is called the Obituaries column. It currently shows that there are 381 instances of Bitcoin “dying” made by different people.
Anyways, this did not stop Bitcoin and the rest of the market to continue hunting their resistance points. Speaking of which, the cryptonews now show a slight correction in the prices of digital assets.
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