When Resnick spoke to Cointelegraph on May 8, he argued that the “death spiral” scenario is not priced in and that the community underestimates its probability. He claimed that there is still maybe only two to three percent chance of the halving killing off the chain completely, but in his opinion, Bitcoin was being priced as if there was a zero percent chance of that happening. Also, he said that a big flash crash is more likely to happen:
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