Bitcoin Dead (BTC): a bubble or a stable investment? Crypto is dead? Cryptocurrency is dead? 2019 2020 2025
Since the majority of encryption enthusiasts have defined 2018 the revolutionary year for cryptocurrencies and blockchain technology, we have seen many cases of use adopted by various cryptos, however, the market seems to be increasing for a while.
Bitcoin (BTC) Price today – BTC / USD
Many people say Bitcoin is just a bubble waiting to burst from moment to moment, since BTC has risen from around $ 18,000 in December 2017, to less than about $ 6,680 for a BTC, as indicated in mid-October 2018.
Many times Bitcoin has been announced as a "dead currency", however, how close are these statements to the truth?
Bitcoin (BTC) is dead? Or is he rather not dead?
Bitcoin has moved from being priced at $ 18,000 to $ 6,680 over the course of 10 months, causing disagreements within the cryptoverse regarding the future of Bitcoin, where a large group of enthusiasts say that Bitcoin is dead.
However, it may be the case that BTC is actually an undead. While most of the 20 major currencies have lost from -75% to -94% of their total value since it reached their record prices, BTC lost "only" -66% against the Fiat, with over 114 billions of dollars in its market capitalization and proudly represents the world of cryptographic assets as the first cryptocurrency on the global ranking of coins.
What may be guiding the assumptions that Bitcoin is "dead" is the fact that the extraction of BTC is becoming increasingly competitive and more costly in terms of cost efficiency month by month, in addition to the fact that BTC transactions are even slower and more expensive.
This case alone has diminished the ability to send low-cost micropayments to BTC as these small transactions are not actually payable as you may end up paying more in commissions as opposed to the amount of BTC you are sending to another address.
Another case that places Bitcoin in the group of allegedly deadly crypts is the fact that BTC does not actually have an official core development team, although it has allowed several hard fork chains to form the BTC chain, for example, having Litecoin (LTC ) derived from its blockchain along with many other cryptos.
What should be remembered regarding the frequent proclamations of the "death" of Bitcoin is the fact that the active decrease in the value of BTC in the market is not an isolated case in the blockchain universe, so it would be useless to assume that BTC is dead just because it has lost -66% of its total value since it reached its all-time high in December 2017.
At this point, being almost 10 years as the original cryptography, BTC's domain has clearly become well established in the cryptocurrency market, although scalability problems prevail over the BTC network, so Bitcoin does not seem to leave the point of the first largest currency in any time soon.
Perhaps, in this case, Bitcoin should be viewed as a prototype of all the digital resources that have arrived at the cryptic scene the year before having thousands of new released ICOs, making it not dead and highly memorable. Keywords: it's bitcoin dead reddit, it's bitcoin dead 2019, it's scrambled dead 2019, it's bitcoin dead 2019, it's dead cryptocurrency, it's dead ethereum
"CRIPTO IS NOT DEAD," SAYS THE ALLIANZ ECONOMIC ADVISER
Although the cryptocurrency market has lost over $ 600 billion in capitalization since January 2018, Allianz's Chief Economic Adviser claims that it is not even close to death.
"CRYPTO IS NOT DEAD"
2018 was rough for cryptocurrencies as the total market fell from around $ 800 billion in January to $ 199 billion at the time of writing. Bitcoin (BTC) lost about 60% of its total value, while Ether, the second largest cryptocurrency, is down about 80%.
However, Mohamed El-Erian, Allianz's chief economic advisor, argues that cryptocurrencies and their underlying technology are far from being dead. Instead, it sees a more widespread adoption coming from both the public and private sectors.
"Crypto is not dead, and certainly the basic technology is not dead. […] we will see a more widespread adoption by both the public and private sectors, blockchain technology and related technologies ".
In early July, El-Erian said that bitcoin is a buying opportunity if prices fall below $ 5000.
At the same time, however, the main advisor claims that adoption will not be as rapid as cryptocurrency advocates would like it to be:
In terms of cryptography, what we are getting is the awareness that adoption will not be as large and rapid as cryptic supporters would like. I think it will be there, it will last a long time, it will play a role in the ecosystem, but it will not be the currency that many supporters would like.
IS LOWER IN?
El-Erian's statement comes as a major investor of cryptocurrency Mike Novogratz pointed out that the market has hit the bottom and that "we have retraced the entire bubble". However, this is not the first time that the owner of Galaxy Digital Investment Bank has called at the bottom. In July, Novogratz also said the same thing when speaking to Ran-Neuner, host of the CNBC "Cryptotrader".
Neu-Ner himself seems to share similar feelings to those of Novogratz, since he also tweeted September 13 that prices may have hit the bottom, citing the data from Coinbase.
Received these Coinbase numbers from @BarrelProtocol yesterday. They suggest we may have seen the bottom. The withdrawals seem to have touched the minimum of inflows https://t.co/5jI4oa2uKh during the ascent. It is not a confirmation, but certainly a good sign. pic.twitter.com/qNqrBp0lk8
– Ran NeuNer (@cryptomanran) September 14, 2018
The withdrawals seem to have hit the bottom. Fiat flows during the climb. It is not a confirmation, but certainly a good sign.
Over 800 cryptocurrencies are now dead because the bitcoin has a 70% discount on its historical maximum
Over 800 cryptocurrencies are now dead and worth less than one cent.
New digital tokens are created through initial coin offerings but some of these projects have been scams and many have not materialized into real products.
Bitcoin has plummeted from its record level close to $ 20,000 last year, adding a bearish sentiment around cryptocurrencies.
Cryptocurrency projects have appeared left, right and center over the past 18 months, but more than 800 of these have died, adding to the comparison between the current digital coin market and the dotcom bubble in 2000.
The new digital tokens are created through a process known as initial coin offer (ICO) in which a start-up can issue a new currency that investors can buy. The investor does not obtain a shareholding in the company, but the cryptocurrency that he buys can be used on the product of the company. People usually buy in an ICO because the coins are cheap and could offer great returns in the future.
There was an explosion in the ICO. Companies have raised $ 3.8 billion through ICO in 2017, but by 2018 this number exceeded $ 12 billion, according to CoinSchedule, a website that tracks the market.
However, hundreds of these projects died because they were scams, a joke or the product did not materialize. Dead Coins is a website that lists all cryptocurrencies that fall into those categories. So far, he has identified just over 800 digital tokens that he considers dead. These coins are useless and sell for less than 1 cent.