There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments, As we know today BTC just dropped below $40k. I am having a very strong feeling that this would be the perfect time to invest, What are your thoughts about this and price predictions for next week if the this "rumour" becomes a reality?
Without a link, the news is not just a rumor but a made-up story. In my opinion for Saudi Arabia allocating $500 billion to buy Bitcoin is not a difficult thing, but have you checked what Bitcoin's current market capitalization is? that's about $783 billion so they will own more than 50% of what is traded, it is very possible that there will be panic because by owning such a large portion they will influence the market and make the Bitcoin market even more unhealthy because they can dump it on the market whenever they want.