Tap to Trade in Gate Square, Win up to 50 GT & Merch!
Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
Click the registration link to join
https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
, Michael Burry, warns that recent declines in Bitcoin could trigger a chain reaction across the entire market, especially in the gold and silver sectors. A sharp drop in Bitcoin could force institutional investors and corporate treasurers to sell up to $1 billion worth of gold and silver to cover losses caused by cryptocurrencies.
Michael Burry believes that Bitcoin falling below $73,000 exposes its fragile foundation. If the price drops to $50,000, it could threaten companies holding large amounts of Bitcoin and even lead to some mining companies going bankrupt. Burry argues that Bitcoin has failed as a digital safe-haven asset or gold substitute. The recent rally driven by ETFs is merely speculative, not a sign of its sustained real-world application.