Is Bitcoin (BTC) Dead: A Bubble Or A Stable Investment? -Wed Jan 23

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

Bitcoin (BTC) Price Today – BTC / USD

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.

READ ALSO:  The Price Of Bitcoin Built Off Speculation, Says CEO Of Bitpay

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