The price of the leading cryptocurrency slipped down the $8,800 mark over the weekend and spiraling downwards after some time. Currently, the price of bitcoin is trading at just above the $8,800 mark. The co-founder and partner at Morgan Creek Digital Jason Williams tweeted that he bought the weekend dip and suggested that the price of the leading cryptocurrency could reach $6,800, but he would still buy bitcoin. The much-anticipated bitcoin halvening event is due tomorrow, after which the mining reward would be reduced in half.
Bitcoin dives below the $9,000 mark.
At the time of writing, the price of the leading cryptocurrency is changing hands at just above the $8,000 mark. The co-founder of the investment firm Morgan Creek Digital Jason Williams seemed unperturbed by the recent pullback witnessed after Bitcoin reached above the $10,000 mark last week. However, bitcoin witnessed a 15% crash in the time frame of just 15 minutes. But Williams confidently stated that he’s still buying Bitcoin, referring to the present state of the leading cryptocurrency as a dip.
Williams is also an angel investor at RTP Capital Associate.Morgan Creek Digital co-founder bought 10 BTC for about $82,229 on May 10, at around 00:40 UTC. The Morgan Creek partner had previously stated many times that he would continue to buy and hold bitcoin, signaling the perception that the cryptocurrency will sooner or later surge.
I bought this dip. I am buying all the way down to $6800.
— Jason A. Williams (@JWilliamsFstmed) May 10, 2020
The much-anticipated bitcoin halvening event arrives.
The leading cryptocurrency is scheduled to undergo the third halvening event on May 12. According to the CryptoDiffer, in total, $1.22 billion was liquidated from an exchange over the weekend. The halvening event is occurring this time in a peculiar time as coronavirus pandemic has taken over the world. Several BTC traders and analysts have claimed that the recent bitcoin bull run is fake, and big players are playing small traders using the halvening narration. The reward for mining each block post halvening event would be 6.25 BTC.