Bitcoin Advocate Jack Dorsey Believes BTC Price Will Again Rise: Here's Why
One of Dorsey’s followers, named Tom Philpott, tweeted on Friday about Bitcoin’s recent plunge and how Dorsey has been focusing his attention on topics other than BTC.
Dorsey responded to the tweet, saying he is not looking at the collapsing Bitcoin price, and he is certain that the BTC price will bounce back.
I don't watch the price. I know it will always gain in value over the long term as more people are able to use it.— jack� (@jack) May 13, 2022
After touching its high point at $69,000 last November, the price of Bitcoin has fallen more than 58 percent.
On Friday, it was trading at $30,000, and on Sunday, at the time of writing, it is trading below $29,000. The price of BTC has dropped almost 20% in the last seven days.
Many analysts predict Bitcoin could fall to $20,000 sometime this year.