Do you believe that bitcoin is dead?

Lens1000

VIP Contributor
There are so many speculations that the Bitcoin is dead. The question is- is Bitcoin really dead? my answer is emphatic no because the bearish market does not depict that there won't be a bullish run in the future but the predictions that was made by cryptocurrency experts on bitcoin reaching $150000 by the end of year 2022 wouldn't be possible anymore.

It is a fact that the Bitcoin market capitalisation dropped by 40% in the last 15 days and we do have some other cryptocurrencies that experience a fall in the market capitalisation more than 50%. Etherium is one of them. The major fall in the market capitalisation of the Bitcoin is as a result of the fact that there are some whales that are withdrawing or converting the Bitcoin assets to the fiat currency. The high amount of liquidation is actually responsible for the dip in the price of Bitcoin.

The individual whales and the institutional Whales are liquidating their bitcoin asset. amount of Bitcoin moved is not ascertained for now. We do know that so many whales have lose trust on bitcoin investment.
So many people still believed that the Bitcoin is dead, do you support the motion?
 

Naz

Active member
No I don't believe. Because up and downs are part of life. And nothing is perfect. I am sure Bitcoin will recover after this dangerous dump and then it will go towards the progress.
 

arunima25

Verified member
It's too early to predict it to be dead. But definitely the cryptocurrency scenario has seen a lot of lows in the current times. And looking at the scenario right now, things don't look promising in near future too. A lot of speculations and theories are being proposed but nothing concrete can be seen..
I read somewhere that seeing the nose dive dip in recent years, many people have lost their confidence in the cryptocurrency market. That's one reason that it might not see a bullish comeback in near future.
Well, the current economic conditions around the globe don't look good and so the cryptocurrency market too doesn't look good.
There is no concrete laws and rules around it too. And the legal future of the cryptos including Bitcoins are hanging on fine thread in most of the countries. All these right now don't give a clear picture about the future. This market ran on sentiments like any market and showed a bullish trend to start with. But then with all happenings in the recent times, it's showing a deep nose dive. People are not so confident about it and these sentiments are not further helping it.
It's not dead yet. And there is a hope that it might bounce back later. But right now all looks dim.
 

Suba

Moderator
Staff member
As a crypto lover you don't have to believe that Bitcoin is going to die, Don't be panicked by fake news makers, recently (Wednesday June 22, 2022) I also read news from the South China Morning Post that Bitcoin's value will return to zero (or die) ). We should think why the whales spread fake news (FUD) that Bitcoin is going to die, here are some of my studies, First the whales had sold most of their Bitcoins when the Bitcoin price was above $30k. The second is the spread of fake news (FUD) so that retail investors sell all the Bitcoin they have, so that the Bitcoin market price will drop drastically. so that whales can buy Bitcoin at a low price, if whales have sold 3000 BTC when the price is above $30k then he will be able to buy Bitcoin as much as about 6000 Bitcoin if the price of Bitcoin is below $15k.
 

Yugocean

Valued Contributor
Yes it is dead, now you can give me your bitcoin, I will give you 1$ for each.

Actually this isn't going to happen, this is the age of Blockchain, an age of Digital Era. Bitcoin will only die when people will move on from BTC / crypto to some other form of economy.

Who is working against Bitcoin from start? Corruption!
A technology which has made entire world to change thinking about money, which has forced governments of the world "to do something" for their own sake. It is not dead just because market has crashed.

Accept bitcoin or leave it, not everyone is going to have one.
 

waggedz

New member
Bitcoin is in a downtrend just like any market that experiences trend changes.

Even the DXY that is currently surging was in a downtrend at some point.

As such, we cannot say a virtual asset is dead just because of a consistent fall in prices. Would it be proper to say it's dead when it's price was rising exponentially? No.

The decline, on the other hand, can largely be attributed to hikes in interest rate. Which has positively impacted the DXY.
 

Phytology

New member
No, I don’t think so. Ups and downs are part of the market environment. It is why precautions are taken to control risk. Yes, there might be major lows, but the market will also take time to recover. So, let’s just be prepared and hope for the best.
 

Vigorish

New member
No, Bitcoin is not dead. Cryptocurrencies do suffer market fluctuations. The prime cause behind bitcoin’s drop was the sudden and huge supply, compared to which the demand was much lower. This instability, and increase in supply devalued the market cap of Bitcoin. But look at it now. Those who held on to the coins believed bitcoin would recover, and it did. The value of BTC is more than 21k today, it is recovering at a good rate.
 

captainKazoo

New member
The price of bitcoin has decreased by 55.55 percent so far this year, which has led to rumours that the cryptocurrency is doomed and that its price will never again reach previous levels which I don’t is think true.
 

Snaffle

New member
Of course not. As a passionate bitcoin holder, I cannot agree even 1% that bitcoin is dead. The current downfall in BTC was due to a disruption of the supply-demand force. This was mostly caused due to the Ukraine-Russia war, rise in inflation, and Solana Luna fall. But one must always remember that the key to profit is to ignore the short term fluctuations and aim for the long term investment. So it is better to be wise and not sell your BTC at the bearish market stage.
 
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