After registering significant volatility, Bitcoin [BTC] was trading at $68,522.50 at the time of writing. The stock rose 1.85% in the past 24 hours, thanks to the 4% gain on the weekly charts.
Furthermore, Bitcoin dominance climbed to 59.09%, with the same level approaching the key 60% level. This alluded to Bitcoin’s relatively strong position in the market.
Bitcoin Criticism from Celebrity
While market data pointed to growing confidence in Bitcoin, the broader conversation around this asset remains divided. For example, Oscar-nominated actor Terrence Howard recently shared a sharply opposing view on the PBD Podcast. Howard claimed,
“Bitcoin is dying. I’m not doing that, I’m not messing with it.”
According to Howard, the main problem is that Bitcoin is still priced in US dollars, meaning its value remains tied to the traditional financial system.
Therefore, he believes that if the broader system faces serious problems, Bitcoin could suffer as well. He even warned that digital assets could theoretically be “wiped out at the push of a button.”
Howard’s doubts are also influenced by personal experiences. He said a friend once asked him to invest $25 million in crypto for a quick return, something he saw as a warning sign of speculation and risk.
For him, stories like this reinforce his belief that the crypto market is unstable and has fallen significantly.
Crypto community defends Bitcoin
As expected, the crypto community didn’t exactly agree with Howard’s opinion. Investor Bram Kanstein, for example claimed,
“If you think Bitcoin can be ‘wiped out at the push of a button,’ you have no idea, dude.”
Another analyst added,
“$BTC is back above the $67,000 level. Despite so much geopolitical uncertainty, Bitcoin is holding up very well. The next crucial zone for Bitcoin is $69,000-$70,000 and if BTC reclaims it, a new monthly high could occur.”
Source: Ted/X
Analysts were also quick to highlight how BTC has historically followed similar cycles, with one to report,
“Bitcoin has a habit of doing the same thing every cycle. It comes back, retests the ATH from the previous cycle, builds a bottom around that level and then moves higher. Something worth paying attention to…”
Bitcoin’s weighted sentiment and Google search trends
Meanwhile, investor sentiment fell sharply between February 4 and 6, according to Santiment.
The weighted sentiment metric fell to -6.978, indicating strong fear across the market. Such a sharp decline likely caused many short-term investors to sell their holdings.
Source: Santiment
This trend is also reflected in search behavior.
In fact, data from Google showed that searches for ‘Bitcoin’ reached the maximum popularity score of 100 on February 8. In the following days, sentiment dropped to 49.
Source: Google Trends
Looking ahead, the next big move in the market may depend more on geopolitical developments than on internal crypto metrics.
As tensions ease, the market may no longer view Bitcoin as a war hedge and instead view it as a risk asset that benefits when global sentiment improves. In that case, Bitcoin’s 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.