Key Takeaways
- The “Bitcoin to $0” narrative is surging again.
- Market sentiment has flipped decisively bearish.
- Bullish credibility is weakening.
Bitcoin’s sharp price downturn has reignited “Bitcoin to $0” theories, with critics like Peter Schiff and Richard Farr as sentiment collapses.
“Every time I ask a Bitcoin true believer to explain why they think it has any long-term value… I come away more certain that Bitcoin has no long-term value, and a floor price of zero.”
That was the verdict this week from Buck Sexton, a popular American talk show host, in a post that quickly spread across social media as Bitcoin’s price fell over 20% in the past week.
Sexton’s comments are the latest example of a narrative that has resurfaced fiercely during the most recent downturn.
