After recording some significant volatility, Bitcoin [BTC] was trading at $68,522.50 at press time. It gained by 1.85% in the last 24 hours, on the back of its 4% gains on the weekly charts.
Additionally, Bitcoin dominance climbed to 59.09%, with the same approaching the key 60% level. This alluded to Bitcoin’s relatively strong position in the market.
Celebrity’s Bitcoin criticism
Now, while market data pointed to growing confidence in Bitcoin, the broader conversation around the asset remains divided. For instance, Oscar-nominated actor Terrence Howard recently shared a sharply opposing view on the PBD Podcast. Howard claimed,
“Bitcoin is going to die. I don’t, I don’t mess with it.”
According to Howard, the main issue is that Bitcoin is still priced in U.S dollars, which means its value remains tied to the traditional financial system.
Because of this, he believes that if the broader system faces serious problems, Bitcoin could also suffer. He even warned that digital assets could theoretically be “wiped out with the push of a button.”
Howard’s doubts are also influenced by personal experiences. He mentioned that a friend once asked him to move $25 million into crypto for a quick return, something he saw as a warning sign of speculation and risk.
To him, stories like these reinforce his belief that the crypto market is unstable and has been falling significantly.
Crypto community defends Bitcoin
As expected, the crypto community didn’t exactly agree with Howard’s view. Investor Bram Kanstein, for instance, claimed,
“If you think Bitcoin can be “wiped out with the press of a button” you have no clue dude.”
Another analyst added,
“$BTC is back above the $67,000 level. Despite so much geopolitical uncertainty, Bitcoin is holding really well. The next crucial zone for Bitcoin is $69,000-$70,000 and if BTC reclaims it, a new monthly high could happen.”
Analysts were also quick to underline how BTC has historically followed similar cycles, with one stating,
“Bitcoin has a habit of doing the same thing every cycle. It comes back, retests the previous cycle’s ATH, builds a bottom around that level, and then heads higher. Something worth paying attention to...”
Bitcoin’s weighted sentiment and Google search trends
Meanwhile, according to Santiment, investor sentiment dropped sharply between 4-6 February.
The weighted sentiment metric fell to -6.978, signaling strong fear across the market. Such a sharp drop caused many short-term retail investors to likely sell their holdings.
This trend can also be reflected in search behavior.
In fact, data from Google showed that searches for “Bitcoin” reached the maximum popularity score of 100 on 08 February. In the days after, the sentiment fell to 49.
Looking ahead, the next big move in the market may depend more on geopolitical developments than on internal crypto metrics.
If tensions ease, the market may stop treating Bitcoin as a wartime hedge and instead view it as a risk asset that benefits when global sentiment improves. In that case, Bitcoin dominance could rise above the key 60% level, strengthening its position in the crypto market.
Final Summary
- Despite this fear-driven phase, Bitcoin has managed to stabilize above key levels.
- Celebrity criticism shows how misconceptions about crypto still influence mainstream discussions.
