Bitcoin Crash Exposes True Believers in Cryptocurrency World

The cryptocurrency market has experienced a significant downturn in recent times, with Bitcoin plummeting from its high of $120,000 last year. This crash has exposed the true believers in the industry, revealing who among them are genuine in their commitment to the cause.

According to an analysis by Biteye, six major Key Opinion Leaders (KOLs) and institutions were tracked for their public statements and on-chain activities during this market crash. The results of this analysis revealed that only two individuals consistently demonstrated their commitment to buying Bitcoin despite market fluctuations: Michael Saylor and Peter Brandt.

Saylor, the CEO of MicroStrategy, has been a vocal advocate for Bitcoin adoption, and his actions have matched his words. He purchased tens of thousands of BTC during the crash, defying the trend and adding significantly to his total holding cost. This move incurred a huge paper loss for Saylor but demonstrated his unwavering commitment to buying Bitcoin.

Brandt, on the other hand, is a respected technical analyst who has consistently reinforced his bearish view of the market. Although he does not buy or short BTC, his loyalty to his trading system is extremely high, and he deserves respect for sticking to his logic, even when others are changing their tune.

Meanwhile, other KOLs were found wanting in their commitment to buying Bitcoin during the crash. Robert Kiyosaki was seen promoting his 'anti-fiat currency' philosophy but failed to act on it, while PlanB and Benjamin Cowen had their models disprove by the market, forcing them to change their tune.