On Monday Edward Snowden tweeted ‘for the first time in a while I’m starting to feel the itch to scale back in‘ with the Bitcoin price around $16,500.
The former NSA and CIA agent added one caveat: ‘There’s still a lot of trouble ahead.’
The Bitcoin price did rally in the hours following his tweet, now up 4% in the past 24 hours.
After four days of FUD surrounding the bankruptcy and shady dealings of FTX exchange and Alameda – which Snowden has also been commenting on – could a short term bounce be due?
Edward Snowden’s Last Bitcoin Price Prediction
Snowden added a price chart with his tweet, showing the last time he made a similar Bitcoin prediction near a bear market bottom.
On March 13th, 2020 – the day the Bitcoin price dropped to $3,782 in the infamous covid crash – he tweeted:
He was right then, as after taking that liquidity Bitcoin pumped to $65,000 in May 2021 and then $69,000 in November, its all time high.
His gut is now telling him the worst of the crypto winter is over, and short of some ‘trouble‘ – perhaps some sideways chop and consolidation – it’s a good time to buy Bitcoin.
He added a follow up tweet in his usual humble style – ‘this is not financial advice and I have no idea what I’m doing‘.
Snowden has however been a long-term follower of cryptocurrency and even participated in the creation ceremony of privacy coin Zcash in 2016.
This week Edward Snowden has also tweeted:
- ‘And they call *me* a criminal‘ (in response to Sam Bankman-Fried’s lies and deleted tweets)
- ‘Custodial exchanges were a mistake’ (shortly before FTX exchange was shown to be insolvent, and rumors then swirled over Crypto.com)
- ‘The White House sanctions and arrests kids for the “crime” of building privacy tools to protect you, while “regulators” were quietly palling around with the thieves who just robbed 5 million people. The difference? The thieves were big political donors.’ (referring to Tornado Cash and Gary Gensler)
Since its all-time high the Bitcoin price has retraced as low as $15,500 on November 9th, an almost 80% correction.