Here’s What John Lennon’s Son Thinks About Bitcoin
March 21 2023 - 11:00AM
NEWSBTC
Many people now see crypto, especially bitcoin, as an option to
protect investors’ money during times of uncertainties in the
traditional banking system. The recent banking crisis in the United
States has made investors aware of the flaws in the current banking
system. As such, the narrative about crypto is shifting from
unreliability to a viable alternative. Related Reading: Stacks
(STX) Reclaims $1 As First DeGods Ordinal NFT Mints For 3.2 BTC
This belief came to play in a recent Twitter post by Stacey
Herbert, where the Bitcoiner shared two pictures of two presidents
(old and young) to represent USD and Bitcoin. While responding to
the post, John Lennon’s son, Sean Lennon, stated, “only Bitcoin can
save us now.” Sean Lennon Sees BTC As The Savior in Current
Crisis In Herbert’s post, the older man representing USD was
US President Biden, while the younger man representing Bitcoin was
El Salvador’s president Bukele. The images depict an old and new
system. Related Reading: Bullish Signal: XRP Whales Go On $155
Million Buying Spree Stacy Herbert further referred to USD as the
“poor old dollar.” In response to Herbert’s tweet, Lennon stated
that Bitcoin is now the savior for everyone, meaning that it is now
a viable option in the face of the aging dollars. Sean Lennon
is the son of the Beatles’ Legend John Lennon. He has always been a
crypto enthusiast and supports bitcoin. In an April 26, 2022 post,
Sean stated that bitcoin will either win big now or do so
later. The American singer has always been optimistic that
Bitcoin will reach higher levels, which informed his stance to call
it the savior. Bitcoin Price Trend Amid Traditional Finance
Crisis BTC price trends since the banking crisis have been
impressive. The Silvergate crisis hit the crypto market badly,
pushing asset prices down. The announcement emerged on March 8,
causing a dip in BTC prices from $22,216 to $21,718. The next
day, the BTC price fell further by $1,357, pushing the coin to
$20,363. It fluctuated within that price range till March 10, when
it recorded an intraday low of $19,628 before starting another
price fluctuation. The dip on March 10 could be associated with the
crash of Silicon Valley bank. But, on March 12, Bitcoin
surged to $22,163.95. This change could be linked to the Federal
Reserve’s announcement to support shuttered bank depositors’ funds.
Even though Signature Bank failed on the same date, it didn’t push
the BTC price down. From March 12, BTC price started an
uptrend, hitting $26,514 on March 14, $27,787 on March 17, and
$28,038 on March 19. It has continued to trade between $25,000 and
$28,000 since March 16 till date. This hold above $25,000 could be
linked to the shift in sentiment that crypto might be a way out
when the traditional banking systems fail. The fear and greed
indicator shows the level has been on the greed side since last
week. Today’s figure shows it has grown to 68, adding slightly from
yesterday’s value. Featured image from Pixabay and chart from
Tradingview.com
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