Entrepreneur David Gokhshtein: Bitcoin Is Going to Zero

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The biggest crypto asset Bitcoin leads the market crash regarding Silvergate.
After billions of dollars evaporated in a matter of minutes, Crypto Twitter sounded the alarm.
Crypto media personality David Gokhshtein tweeted the pessimistic forecast.

Crypto journalist and entrepreneur David Gokhshtein predicts the bearish trend will persist until the leading crypto asset, Bitcoin (BTC), hits the $0 mark. While the news about Silvergate, a crypto-focused bank going through a major crisis, broke and sent the entire crypto market crashing in the early hours of Friday, Mr. Gokhshtein shared his views on the situation: “I think #bitcoin is going to be $0”.

Naturally, the unpopular opinion immediately met with strong reactions from crypto enthusiasts on Twitter. While one crypto enthusiast say that “You need some extra views, you don’t really think this is right?” another fan who goes by that nickname Unfiltered boss uttered”I’m setting up my McDonald’s app.”

Finally, Car For Coin adds: “Well, the SEC loves BTC,” referring to Gary Gensler’s recent statement that he only considers Bitcoin (BTC) a non-security. In response, Gokhshtein sarcastically remarked: “Apparently; #bitcoin is not going to be $0. Source: Crypto Twitter,” but later refuted his statement in the same thread, returning his original opinion: “This will be zero.

It will be zero.
— David Gokhshtein ®️ (@davidgokhshtein) March 3, 2023

Is DOGE Following BTC’s Footsteps?

What the self-proclaimed Shiba Inu community leader (SHIB) failed to mention in his Friday tweet was Dogecoin’s relationship with Bitcoin (BTC), the father of all cryptos. The price correlation coefficient between Dogecoin (DOGE) and Bitcoin (BTC) is only 0.34, indicating weak diversification.

Crypto trader The Doge Coach argues that “DOGE/BTC indicates a HUGE possibility of a massive breakout.” While showing strength against Bitcoin (BTC) is considered a bullish signal, as DOGE is considered to be much more volatile than Bitcoin, it does not yet reflect the market price of the dog coin.

Currently, the #10 Japanese guard dog-themed cryptocurrency Dogecoin (DOGE) is changing hands at $0.076346, according to CoinGecko. With a daily decline of 4.9%, top dog coin is still reeling after dropping 20.8% in the last 30 days. Even so, memecoin still has a comfortable place in the TOP 10 by global market cap.

On the Flipside:

David Gokhshtein recently said that DOGE “will reach a new peak price” for sure.
The emerging crypto personality has shifted focus to dog-themed memecoins last year with ambitions to lead the community.
David Gokhshtein made a similar statement about Solana (SOL) when it falls to single digits but then got back up.