Welcome To Bitcoin is Ded Season! *Bitcoin isn't Dead
IS BITCOIN DEAD AGAIN?
Have you heard the news? Bitcoin is dead again! I love the fact that some are buying into the narrative yet again. I've only been really active in the crypto space since 2016, but during that time Bitcoin has died several times and many times before. In fact there is a guy who tracks the death of Bitcoin on a chart! Which is entertaining, along with links to the well thought-out explanations of each of it's deaths. You can find it here:
Each red dot on the chart links to a corresponding Bitcoin is Dead article, which is actually a pretty cool chunk of history if you want to go look at it, goes over some interesting and history Bitcoin moments.
Over the weekend Google Searches for "Bitcoin Dead" hit all time highs, and there are several articles about it.
Never to get left out of a negative Bitcoin conversation one obituary statement was written by economist Peter Schiff on Twitter. Schiff has always thought bitcoin is worthless and he has said multiple times that BTC’s price is headed to zero. Schiff’s recent bitcoin obituary called “Bitcoin Will Not Recover,” says the current crypto crash is just the beginning. Schiff’s obituary statement says:
And while this crash has been quick and harsh there is no doubt in my mind we recover again as it always does, although perhaps a bit more slowly during a Global economic cool down.
While the media and Bitcoin haters focus on the price action and FUD we continue to see adoption.
There are more Bitcoin wallets than ever, more nations approving Bitcoin as a valid exchange for value, and Wallstreet continues to try to find ways to capitalize on the crypto craze.
While it is true that Bitcoin and other crypto projects have seen a discouraging drop in price, Bitcoin is no where near dead. Let the FUD flow and continue your plans to stack Bitcoin and other quality projects. Move against the tides, while others are getting out or frightened get in.
Stay involved in Hive and LeoFinance as a support group, so you do not get overwhelmed by the negativity and hang on. If we are still in the four year cycle we are already more than 6 months into it and never has a bear season been all down. I expect some recovery from here although I am not saying we don't reach further lows, we could.. I just know innovation and adoption are still coming and crashing fiat systems could help fuel that, so don't wait for the absolute bottom, because this can turn around as quickly as it dropped.
Bitcoin is not ded.
Posted Using LeoFinance Beta