Is Bitcoin (BTC) Dead: A Bubble Or A Stable Investment? -Mon Apr 22

Is Bitcoin Dead (BTC): A Bubble Or A Stable Investment? Is Crypto Dead? Is Cryptocurrency Dead? 2019 2020 2025

Since the majority of crypto enthusiasts dubbed 2018 as the revolutionary year for cryptocurrencies and blockchain technology, we have seen lots of use cases bei

ng adopted from various cryptos, however, the market seems to be surging for quite some time now.

Bitcoin (BTC) Price Today – BTC / USD

Is the price of Bitcoin down to zero?
No.

Many people are claiming that Bitcoin is just a bubble waiting to burst any time now as BTC went from being worth around 18,000$ back in December of 2017, towards declining to its value of around 6,680$ per one BTC as marked in mid-October 2018.

Many times have Bitcoin been announced as a “dead coin”, however, how close to the truth these statements are?

Is Bitcoin (BTC) Dead? Or is it rather Undead?

Bitcoin went from being traded at the price of 18,000$ to its value of around 6,680$ in the course of 10 months, causing disagreements within the cryptoverse regarding the future of Bitcoin, where a large group of enthusiasts claims that Bitcoin is dead.

However, it might be the case that BTC is actually undead. While the majority of top 20 currencies lost from -75% to -94% of their total value since making to their record prices, BTC lost “only” -66% against the fiat, still weighing over 114 billion dollars in its market cap and proudly representing the world of crypto assets as the first cryptocurrency on the global coin ranking list.

What might be driving the suppositions that Bitcoin is “dead” is the fact that the mining of BTC is getting more competitive and more expensive in the terms of the cost-efficiency month by month, alongside with the fact that BTC transactions are also getting slower and more expensive.

This case alone diminished the possibility for sending cheap micropayments in BTC since these small transactions aren’t actually payable as you could end up paying more in fees in oppose to the amount of BTC you are sending to another address.

Another case that places Bitcoin in the group of supposedly dead cryptos is the fact that BTC doesn’t actually have an official core dev team, Although it allowed for numerous hard forks form BTC chain, for instance, having Litecoin (LTC) derived from its blockchain alongside with many other cryptos.

What should be remembered regarding the frequent proclamations of Bitcoin’s “death” is the fact that the active decreases in the value of BTC in the market is not an isolated case in the blockchain universe, so it would be futile to suppose that BTC is dead only because it lost -66% of its total value since making it to its all-time high back in December of 2017.

At this point, being almost 10 years around as the original crypto, the dominance of BTC has clearly become well-established in the cryptocurrency market, although the scalability issues prevail on the BTC network,  so Bitcoin doesn’t seem to be leaving the spot of the first largest currency any time soon.

Perhaps, in this case, Bitcoin should be observed as a prototype of all digital assets that came to the crypto scene year prior to having thousand of new ICOs issued, making it undead and maximally memorable. Keywords: is bitcoin dead reddit, is bitcoin dead 2019, is crypto dead 2019, is bitcoin dead 2019, is cryptocurrency dead, is ethereum dead


‘CRYPTO IS NOT DEAD,’ SAYS ALLIANZ CHIEF ECONOMIC ADVISER
Despite the fact that the cryptocurrency market has lost over $600 billion of its capitalization since January 2018, the Chief Economic Adviser of Allianz maintains that it’s not even close to being dead.

“CRYPTO IS NOT DEAD”

2018 has been rough for cryptocurrencies as the total market shrank from near $800 billion in January to $199 billion at the time of writing. Bitcoin (BTC) has lost around 60 percent of its total value, while Ether, the second largest cryptocurrency, is down with around 80 percent.

However, Mohamed El-Erian, chief economic advisor of Allianz, holds that cryptocurrencies and their underlying technology are far from being dead. Instead, he sees more widespread adoption coming from both the public and the private sectors.

“Crypto is not dead, and certainly the underlying technology is not dead. […] we’re going to see more widespread adoption, by both the private and public sector, of the blockchain technology and related technologies.”

Earlier in July, El-Erian said that bitcoin is a buying opportunity if the prices fall below $5,000.

Allianz

At the same time though, the chief advisor also maintains that adoption is not going to be as rapid as cryptocurrency proponents would like it to be:

In terms of crypto, what we’re getting is the realization that adoption is not going to be as big and as quick as the proponents of crypto would like. I think it’s going to be there, it’s going to last for a long time, it’s going to play a role in the ecosystem, but it’s not going to be the currency that a lot of proponents would like it to be.

IS BOTTOM IN?
El-Erian’s statement comes as prominent cryptocurrency investor Mike Novogratz outlined that the market has bottomed and that, “we retraced the whole of the bubble.” However, this is not the first time the owner of Galaxy Digital Investment Bank has called in the bottom. In July, Novogratz also said the same thing speaking to Ran-Neuner, host of CNBC’s “Cryptotrader.”

Neu-Ner himself seems to be sharing similar sentiments as Novogratz, as he also tweeted September 13 that prices may have bottomed, citing data from Coinbase.

Withdrawals seem to have bottomed out. Fiat inflows on the way up. It’s not a confirmation but certain a good sign.

Over 800 cryptocurrencies are now dead as bitcoin is 70 percent off its record high
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 fallen grealy since its record high near $20,000 last year, adding to bearish sentiment around cryptocurrencies.
Cryptocurrency projects have been popping up left, right and center in the past 18 months, but over 800 of those are now dead, adding to comparisons between the current digital coin market and the dotcom bubble in 2000.

New digital tokens are created via a process known as an initial coin offering (ICO) where a start-up can issue a new coin which investors can buy. The investor doesn’t get an equity stake in the company, but the cryptocurrency that they buy can be used on the company’s product. People usually buy into an ICO because the coins are cheap and could offer big returns in the future.

There has been an explosion in ICOs. Companies raised $3.8 billion via ICOs in 2017, but in 2018, this number exceeded $12 billion, according to CoinSchedule, a website that tracks the market.

However, hundreds of these projects are now dead because they were scams, a joke or the product hasn’t materialized. Dead Coins is a website that lists all the cryptocurrencies that fall into those categories. So far, it has identified just over 800 digital tokens that it considers dead. These coins are worthless and trade at less than 1 cent.

Is Bitcoin Dead? Why Crypto Market Down? How Long It Will Take For Bitcoin To Reach 20K?

We are in a crypto winter for a long time. All the investors are pessimistic about the near future of crypto market. I have been making some research at the conferences lately and I haven’t seen anyone who is positive in the near future. Lastly I have asked to the audience at a conference about 500 people, and there wasn’t anyone who is optimistic for the 2019. But this absolutely doesn’t mean that it will never come back. But it will take time. Let’s see some different views about the future of crypto.

Crypto is the Biggest Shakeup since Global Financial Crash

Cryptocurrency prices are being ridden hard by bears since they hit their peaks, however, according to Nigel Green, founder, and CEO of deVere Group, moving forward crypto bulls will be proven right.

Since Bitcoin and cryptos hit the peak in December 2017, the market has been ridden hard by the bears. Now, Bitcoin is expected to drop below $3,000 with no bullish signs predicted for 2019. However, it is only a short term view as experts and analysts have repeatedly shared.

Cryptos have Already Changed the Way the World Handles Money

“Amazon was to retail what bitcoin is to banking, perhaps. Indeed, cryptocurrencies have already changed forever the way the world handles money, makes transactions, does business and manages assets.” (Coinpage)

Harvard Economist: Bitcoin’s Future Value More Likely to Be $100 Than $100K

The former chief economist of the International Monetary Fund (IMF) has characterized Bitcoin (BTC) as “a lottery ticket,” in an article for major United Kingdom daily broadsheet The Guardian Dec. 10.

Writing in the midst of the recent crypto market price collapse, current Harvard University Professor of Economics and Public Policy Kenneth Rogoff suggested that the “overwhelming sentiment” among crypto advocates is that the total “market capitalisation of cryptocurrencies could explode over the next five years, rising to $5-10 [trillion].”

The historic volatility of the emerging asset class, he conceded, indeed indicates that Bitcoin’s decline from its all-time highs of $20,000 to under $3,500 earlier today is “no reason to panic.”

Nonetheless, the economist dismissed the “crypto evangelist” view of Bitcoin as digital gold, calling it “nutty,” stating its long-term value is “more likely to be $100 than $100,000.” Rogoff argued that unlike physical gold, Bitcoin’s use is limited to transactions – making it purportedly more vulnerable to a bubble-like collapse. Additionally, the cryptocurrency’s energy-intensive verification process is “vastly less efficient” than systems that rely on “a trusted central authority like a central bank.”

Bitcoin will hit $250,000 in a matter of years

Venture capitalist Tim Draper, for example, still believes that cryptocurrencies are the future of all currencies and that Bitcoin will hit $250,000 in a matter of years.

Bitcoin ‘Died’ 90 Times In 2018

While Bitcoin ‘Died’ 90 Times In 2018, There Are Almost 1000 ‘Dead’ Altcoins, Data Shows. A look at the history of cryptocurrency in 2018 has shown that Bitcoin (BTC) has risen from a “dead” designation in the media 90 times, data from industry news and information portal 99bitcoins shows.

According to the site’s fabled Bitcoin Obituaries section, which tracks media claims that Bitcoin has failed, almost 100 such claims surfaced last year as BTC/USD trended down from highs around $20,000 in December 2017 to lows of $3,130 in December 2018.

By contrast, a log of altcoins which for various reasons disappeared from the market altogether now contains almost 1,000 entries.

The database, Dead Coins, distinguishes assets which failed due to hacks, scams, or which simply became “deceased,” along with “parody” coins which served no sincere purpose, according to their criteria. The website allows anyone to submit a claim for a “dead” coin.

Combined, the total number of altcoins which will likely never return, according to Dead Coins, has now reached 934 — the total number of cryptocurrencies with a measurable market cap is currently 2,073, data from CoinMarketCap shows.

BITCOIN GREW 82,000% IN 7 YEARS BUT ‘DIED’ 91 TIMES IN 2018
Bitcoin died 91 times in 2018 alone and 337 in total. But despite the latest bear cycle, hard data shows that Bitcoin has grown with more than 82,000 percent in the last 7 years.

82000% GROWTH IN THE LAST 7 YEARS

It’s true that 2018’s prolonged bear market took its toll on bitcoin’s price. BTC $3464.15 +0.12% is currently trading at more than 80 percent below its all-time high price.

Nevertheless, if one only measures Bitcoin by its price in dollars, it still turns out that Bitcoin is not only not dead – it has actually grown by more than 82,000% in the last 7 years.

‘Bitcoin is pretty much dead!’

Bitcoin is pretty much dead, says teenage crypto phenom to MarketWatch. Finman can see another bull rally or two, but the long-term outlook is dire. Erik Finman, who became a teenage bitcoin millionaire during the crazy run to $20,000, has warned bitcoin maximalists — believers in the world’s best-known cryptocurrency — that the long-term outlook is bleak.

Finman hit the headlines as a teenager in early 2018 when his rags to riches bitcoin BTCUSD, tale made him an overnight superstar. At the age of 12, Finman began to purchase bitcoin with a gift from his grandmother.

But the bitcoin early adopter has warned investors that putting all their eggs in one basket is a mistake, saying the largest digital currency has a finite shelf life.

“Bitcoin is dead, it’s too fragmented, there’s tons of infighting I just don’t think it will last,” Finman told MarketWatch. “It may have a bull market or two left in it, but long-term, its dead.” That’s a hot take coming from a guy who bought bitcoin in 2011, turning $1,000 into more than $4 million.

What will 2019 bring for Bitcoin? How many times will Bitcoin die in 2019? Share your prediction below!

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