15 Nov 2022 · 1 min read

Will Edward Snowden's New Bitcoin Price Prediction Be Accurate Again

On Monday Edward Snowden tweeted 'for the first time in a while I'm starting to feel the itch to scale back in' with the Bitcoin price around $16,500.

The former NSA and CIA agent added one caveat: 'There's still a lot of trouble ahead.'

The Bitcoin price did rally in the hours following his tweet, now up 4% in the past 24 hours. 

After four days of FUD surrounding the bankruptcy and shady dealings of FTX exchange and Alameda - which Snowden has also been commenting on - could a short term bounce be due?

Edward Snowden's Last Bitcoin Price Prediction

Snowden added a price chart with his tweet, showing the last time he made a similar Bitcoin prediction near a bear market bottom.

On March 13th, 2020 - the day the Bitcoin price dropped to $3,782 in the infamous covid crash - he tweeted:

He was right then, as after taking that liquidity Bitcoin pumped to $65,000 in May 2021 and then $69,000 in November, its all time high.

His gut is now telling him the worst of the crypto winter is over, and short of some 'trouble' - perhaps some sideways chop and consolidation - it's a good time to buy Bitcoin.

He added a follow up tweet in his usual humble style - 'this is not financial advice and I have no idea what I'm doing'.

Snowden has however been a long-term follower of cryptocurrency and even participated in the creation ceremony of privacy coin Zcash in 2016.

This week Edward Snowden has also tweeted:

  • 'And they call *me* a criminal' (in response to Sam Bankman-Fried's lies and deleted tweets)
  • 'Custodial exchanges were a mistake' (shortly before FTX exchange was shown to be insolvent, and rumors then swirled over Crypto.com)
  • 'The White House sanctions and arrests kids for the "crime" of building privacy tools to protect you, while "regulators" were quietly palling around with the thieves who just robbed 5 million people. The difference? The thieves were big political donors.' (referring to Tornado Cash and Gary Gensler)

Since its all-time high the Bitcoin price has retraced as low as $15,500 on November 9th, an almost 80% correction.

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