Is Bitcoin Dead/

Hearing people who have no touch of the cryptoverse say that Bitcoin or crypto is "dead" (after hearing the same thing said before the previous 4 bounces) is disapointingly redundant. It's been said many times, this is what winter looks like. This is the fifth winter in the 10 years it has been around, spring will occur, winters will occur, markets have cycles, these are quicker than your typical Nasdaq 10-year cycles.

Let's put price discover aside, because Bitcoin is NOT dead. Bitcoin has two use cases. First, which everyone gets hyped over, is store value (the price). The SECOND and MORE IMPORTANT use case is censorship-resistant transfer of value. This isn't the glorious part of Bitcoin.

Bitcoin has surpassed Visa in processing dollar value and will soon surpass MasterCard. Bitcoin ATMs are being setup throughout developing countries left and right where transfer of value is elsewise done through money transfers that get rejected for "suspicious origin" or bribing travellers and hoping it reaches to the people.

Bitcoin is booming. It continues to work as a means to it's purpose and price valuation is a secondary pheonomenon to the core intentions behind it's invention. To comment on price movment, you must have an understanding of fundamenalist economic pressures that come from multi-billion dollar mining companies switching to and liquidating to cover the cost for switching to move hash rate to another chain which is literally half as profitable.

$5800 was a major support zone, fundamentally. Technical Anlysis recognized it as an odd place to discover support. It was a fundamelist location derived from the cost of mining. Though location and environmental conditions vary, it currently costs approximately $5800 to produce your average Bitcoin from the inflation rate.

Jihan Wu, the founder of the biggest mining company, Bitmain, helped build this support level. In a complicated fiasco that I will happily explain sometime, Jihan Wu and his twelve-billion dollar company decided to support another chain which is haf as profitable. Rather than selling at break even, Bitmain liquidated assets to compromise. While this occurs, enjoy your holiday specials, I'll be hearing your "I should've bought at $3,600...$2800... (Wherever it goes while a literal economic and technological war goes on)" in a year or two