On 21st March, well-known BTC investor and podcast host Brad Mills warned about the bitcoin price. According to mills, the data from past crashes indicate that another big retreat is imminent in traditional markets – one that will bring another wrecking ball to Bitcoin.
In recent tweet mills stated that,
“ If you have not taken your money off the table yet, I don’t know what you’re waiting for. Monday is not going to look good. Likely all 3 circuit breakers will be hit sometime soon. -7, -13%, -20% everyone go home. 1-2 week markets turned off, then no short selling”
In response to this, Ripple’s chief technology, David Schwartz, officer re-tweeted questioning the strength of banks, and whether it’s a smart move to hold assets in US dollars.
According to Schwartz,
If you take it off the table, where do you put it? Bond funds are also risky, the money market may break the buck, are banks even safe?
On the other hand, Mills believes that investors should hold a large cash position in the short term, spread across multiple banks to reduce risk.
Mills replied saying “ Heavyweight cash & deploy it conservatively; own different assets. Invested in things & businesses as the trend shifts, cash is temp. I’m slowly moving out and will slowly move back in so I don’t do any YOLO bets. Spread cash across multiple banks.”
Back in April 2019, Schwartz being open about his status as an XRP investor claimed that he sold $40,000 worth of Ethereum (ETH) and plans to keep skin in the crypto game for the “foreseeable future.”
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