Crypto & Web3.0
Is Bitcoin Dead?
How many times have you buried bitcoin? But it always came back to life. And so it will be this time. Or will it not?
In the wake of the FTX crash, Bitcoin updated its low to $15,800, triggering panic among investors. Many began to sell their coins at a loss for fear of further declines, forgetting that this is not the first time Bitcoin has been compromised. Today, we want to remember all the cases when the public was sure that the major cryptocurrency was going to crash.
2011: In 2011, the price of bitcoin plummeted from $17 to a few cents in a couple of minutes when a major holder tried to cash out in a lack of liquidity. Trading was halted, and an article was published on Forbes’ website with the headline, “So, That’s the End of Bitcoin.”
2013: By this time, the price of bitcoin was hovering around $100, but after a discussion in the U.S. Congress, an article published on Bloomberg claimed, “Bitcoin is still doomed.”
2014: In early February, leading cryptocurrency exchange Mt Gox suspended withdrawals and announced that it had “lost” about 650,000 BTC. This event led to losses for many BTC holders and caused numerous claims that bitcoin and cryptocurrencies would die.
2014:In December 2014, the IRS announced that virtual currency would be treated as property for tax purposes. As you can see here, this led to claims that this was the end of the road for bitcoin as it would be killed by regulation.
2016: В интервью Yahoo Finance в 2016 году генеральный директор нео банка TransferWise заявил: “Биткойн, я думаю, можно сказать, мертв”, ссылаясь на отсутствие тяги к нему.
2018:In a 2016 interview with Yahoo Finance, the CEO of neo-bank TransferWise said, “Bitcoin, I guess you could say, is dead,” citing a lack of traction for it.
2022: Here’s another claim (also from Seeking Alpha) that bitcoin is “dead as predicted,” along with a warning not to be persuaded as the decentralized dream has been debunked.
The reactions of one of the largest investment funds Blackrock to changes in the price of bitcoin for 5 years.
History teaches you not to make emotional decisions, not to be led by the majority opinion, and always DYOR. Will bitcoin recover this time? I think it will.