The founder and CEO of Messari, a leading provider of crypto analytics services, Ryan Selkis, tweeted, “Buy Bitcoin,” confirming that the digital currency is currently trading at one of its lowest prices possible.
Why is Messari CEO Ryan Selkis Advocates Buying Bitcoin?
While various unfavorable events keep happening in the market, it took the leading digital currency many weeks to maintain its stability above the $20,000 threshold. There has been debate over whether the industry will be cut off from the banking system in light of the most recent collapse of Silvergate Bank, which is regarded as the leading financial institution for the sector.
On the other hand, leaders in the industry, like pro-crypto lawyer John Deaton, are worried that this and the FTX fact could be used as a justification for authorities to intensify their anti-crypto agenda.
Dropping in BTC
With significant sell-offs taking place across the largest cryptocurrencies, the digital currency ecosystem started out yesterday in a highly pessimistic setting. The worst-hit cryptocurrency appears to be BTC, which has fallen below the $20,000 support level and is trading at $19,993.72, a 7.99% decrease in the last 24 hours. However, at the time of publishing this article on 11.03.2023, BTC was trading 3.69% higher at $20,690.28.
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