Is AI the reason bitcoin price fall 50% from all time high?

[Oshosondy]

I saw this video where Authur Hayes said bitcoin fall from 50% from all time high because of AI disruption. In short he was talking about AI causing job reduction and which makes bitcoin fall is what I think.

https://youtu.be/mKcrT42c8tU?si=RnLl5wumCQHvdd_s

There was over 90 thousand job loss in United States recently which can be linked to AI just like over 4000 job loss on Jack Dorsey’s company, Block (formerly Square).

It is just like when people are linking something wrong to what that caused bitcoin price fall.

To me bitcoin fall because we are in bear market.

[sleepfirefly]

It is just like when people are linking something wrong to what that caused bitcoin price fall.

To me bitcoin fall because we are in bear market.

i also believe that bitcoin has simply fallen because it’s the bear market. there’s a lot of things happening around the world that anyone can link those to the market recession. i don’t think ai is getting too disruptive to the point of affecting bitcoin

[Mahiyammahi]

I saw this video where Authur Hayes said bitcoin fall from 50% from all time high because of AI disruption. In short he was talking about AI causing job reduction and which makes bitcoin fall is what I think.

https://youtu.be/mKcrT42c8tU?si=RnLl5wumCQHvdd_s

There was over 90 thousand job loss in United States recently which can be linked to AI just like over 4000 job loss on Jack Dorsey’s company, Block (formerly Square).

Us is just like when people are linking something wrong to what that caused bitcoin price fall.

To me bitcoin fall because we are in bear market.

So in this bear market AI just added another excuse to us shift our complain of bitcoin dumping. While bitcoin always follows it's cycle. Bear market always happens without this AI narrative. When rates are staying high , capitals becomes expensive risk assets always falls. ETF flow slow down, miners & Traders book their profit also count as a factor behind the btc dump. Not like AI brust/adoption has caused the btc to dump more.

[Eternad]

There’s a lot of reason for the price to dump after hitting ATH. Some early investors taking profit, there’s a looming war that instigate by the US that cause global market disruption and many more factors.

I doubt a single reason cause the strong 50% since it’s a huge marketcap remove to Bitcoin slowly ever since this bear market started.

The good news is it happened in tranches not a sharp drop compared before that it drops quickly and create panic on crypto market.

[SquirrelJulietGarden]

I saw this video where Authur Hayes said bitcoin fall from 50% from all time high because of AI disruption. In short he was talking about AI causing job reduction and which makes bitcoin fall is what I think.

The world in recent years has many more issues than AI growth and its impacts on society so blaming everything on AI is non sense. Bitcoin can be affected as if people have more financial problems, there will be less people have discretionary income for investment in Bitcoin. It is effect from job market but Bitcoin bull and bear market will not be affected by AI.

It's only has smaller bull market, more severe bear market if the world has financial crisis or recession by many reasons, not only impacts from AI.

[Easteregg69]

I was moving to gold and silver while you was all fired up on AI. And ETF and bank shares.

As in not moving. Bought something else in next batch. Cheers. Kept the crypto since it's down.

Skipping the btc dca this month. To much noise. BTW. BMNR is at 20 usd after a all time high of 3200 usd.

[KiaKia]

AI disruption my foot, lol, it's always in every bear market that people like Hayes will come out and speak nonsense, they have lost face that's why they need to push the blame of something else.

This is the reward you will get if you keep following popular people in crypto space, they will tell you to hold when it's already too late and they will tell you to buy when it's too early, they have no clue or they are just deceiving their followers.

It is too accurate that they always come out in a bear market to tell their own reasons why Bitcoin price have dump, do not believe them, I have wasted time of such people only to find out that they don't have much best at heart.

[Easteregg69]

I have wasted time of such people only to find out that they don't have much best at heart.

"I keep my visions to myself".- Fleetwood Mac.

You know discretion is more an agreement than a hush.

[Majestic-milf]

 So let's agree that AI usage was what caused the drop in price, so what Arthur is saying is if there's a reduction in the use of dependency of AI, Bitcoin price would shoot back up? Some times so called experts who claim to know the market are often the ones making mistakes and giving wrong impressions of Bitcoin. This take of his simply means that Bitcoin never experiences bear periods but rather, it  gets affected by any trend that takes over. Bitcoin will go back up and I'm still sure there'd be companies still making use of AI so let's not give too much importance to things like this. Besides, it's just his opinion on what he feels is affecting Bitcoin that he's giving and nothing else.

[Maslate]

With AI adoption highly increasing, it is already assumed that physical jobs will be compromised, thus leading to job reduction and working employees as well.

However, I don't see any significant reason why this could be linked to bitcoin price drop, though if the effect of such event may harm globally, but still I believe bitcoin price is dropping because we are now already entering a bearish market, which means majority of the crypto coins would be seen dropping its price consistently, and bitcoin is no longer an exception.

[Charles-Tim]

There’s a lot of reason for the price to dump after hitting ATH. Some early investors taking profit, there’s a looming war that instigate by the US that cause global market disruption and many more factors.

I doubt a single reason cause the strong 50% since it’s a huge marketcap remove to Bitcoin slowly ever since this bear market started.

Just a single reason can be linked to the 50% drop and that is bear market and it is just as simple as that. You can even see on your post that people are taking profit, but not just only that but also the bear market sentimental thinking is not yet over. Maybe it can be over later in the next one or next two halving, but not over yet this time.

[Cryptomultiplier]

From what I have seen and understood about the Bitcoin market, not just only AI contributed to the 50% drop in price, but I think spot ETF adoption contributed as well, while AI may have contributed by the introduction of bots and AI stocks too.
Volatility is a main reason and it could be from any angle, including the war crisis ongoing and the rise in price of oil.

[Curious T]

He didn't even say how the laying off of workers due to AI caused Bitcoin's price to fall. Is it the banks that sold their bitcoin holdings in anticipation that 10-20% of workers won't be able to pay back their debt, or is it the workers who sold their bitcoin holdings because they no longer had jobs? Or did people just see AI making people lose jobs and decide to sell their Bitcoin? He didn't actually say anything in the video, except that I'm the one who didn't understand him.

If you add the fact that this is historically the time that Bitcoin goes through a bear market and all the chaos and uncertainty going on in the world, it's not a big conspiracy to see how Bitcoin's price has fallen.

[The Cryptovator]

I saw this video where Authur Hayes said bitcoin fall from 50% from all time high because of AI disruption. In short he was talking about AI causing job reduction and which makes bitcoin fall is what I think.

Is AI somewhere directly related to Bitcoin or any other cryptocurrency? Was AI just launched a few days back? I don't think Bitcoin is a dump for AI. It's true AI makes life easier, but I don't think AI is the reason for the reduction in jobs. Even though there was an AI Bitcoin record ATH, so it doesn't make sense to blame AI for the current dump. It's all about the situation, like investors' interest and war as well.

For a few days Bitcoin almost seems stable; if the war stops, then I believe again Bitcoin will start growing, and we may see another ATH as well. Overall, the world economy seems not good right now for the war. AI hasn't hugely affected the job, it's my belief. There would be some other reasons for increasing jobless people in the USA, like inflation. We shouldn't be afraid; rather, keep accumulating Bitcoin, and you will have a good time soon.

[SquirrelJulietGarden]

Is AI somewhere directly related to Bitcoin or any other cryptocurrency? Was AI just launched a few days back? I don't think Bitcoin is a dump for AI. It's true AI makes life easier, but I don't think AI is the reason for the reduction in jobs. Even though there was an AI Bitcoin record ATH, so it doesn't make sense to blame AI for the current dump. It's all about the situation, like investors' interest and war as well.

Globally monetary policies in many nations recent years in this market cycle were different than their policies in a previous market cycles during and after the Covid-19 pandemic. These policies affected availability of money in societies and people have been less ready to invest their money in Bitcoin. They have had harder financial status and prioritized their money for life spending and other things that are more important for them last two years.

For a few days Bitcoin almost seems stable; if the war stops, then I believe again Bitcoin will start growing, and we may see another ATH as well. Overall, the world economy seems not good right now for the war. AI hasn't hugely affected the job, it's my belief. There would be some other reasons for increasing jobless people in the USA, like inflation. We shouldn't be afraid; rather, keep accumulating Bitcoin, and you will have a good time soon.

I don't know when the wars will end, never know but Bitcoin market will continue its market cycle even with wars globally. It's only be amplified more without wars and better monetary policies from governments or it will have less growth than expected but the next bull market will surely come.

AI won't change Bitcoin market cycle, and it won't be able to prevent the bull takes over the market in 2028 and 2029 after a next Bitcoin halving.

[Moreno233]

This is a very funny line of reasoning and I laughed seeing such bold statement from someone in this generation. Bear market is nothing new in Bitcoin so why attributing it to AI when we know that Bitcoin is just following the 4 years cycle which we all thought have ended following the approval of Bitcoin ETF. I will admonish everyone to discard this rumor because it makes those who understand Bitcoin and yet believe this, to appear stupid.

[retreat]

People are speculating too much about why Bitcoin has dropped. Some say it is because of quantum computers, AI, war, and other things that actually have nothing to do with Bitcoin. The drop is because we are currently entering a bearish trend, and this was already predicted if we look at the history of Bitcoin prices. So there is no need to speculate too much about things that actually have no effect whatsoever.

[bitbollo]

I would look with interest his idea on this bear market because he has a deep knowledge on btc (even if sometime he appears to make provocation...)
It couldn't be only AI driven also because there will not be a real reason for price collapsing (are white collar already selling their coins )
For sure the conditions he has mentioned are pretty true.
These can be masked by the current oil crisis or some silly memecoin on the market probably bear market of btc would not be the consequence but one of the solution. The chancellor on brink of bailout...

[bitLeap]

Making the existence of AI a factor in Bitcoin price decline seems overblown. It has absolutely no impact, and even if it did, it wouldn't have much of a longterm impact. This narrative often emerges after a price move, as if there were a single, clear cause, when in reality, Bitcoin price movements are almost always influenced by a combination of factors.

[Bastketsrus]

I would look with interest his idea on this bear market because he has a deep knowledge on btc (even if sometime he appears to make provocation...)
It couldn't be only AI driven also because there will not be a real reason for price collapsing (are white collar already selling their coins )
For sure the conditions he has mentioned are pretty true.
These can be masked by the current oil crisis or some silly memecoin on the market probably bear market of btc would not be the consequence but one of the solution. The chancellor on brink of bailout...

Yeah, bear markets are always tricky and the reasons behind them aren’t always clear. But even during slow periods people still keep using Bitcoin in different ways, including platforms like bitcoinbetting.