Is Bitcoin Dead?
Despite the fact we are seeing a bounce today, many have pronounced bitcoin dead.
In fact, bitcoin has already died 27 times in its 10 year history, yet here it is. Although this time it is gonna be different, right?
It may very well be, but as of right now, it is not dead and not anywhere near dead.
I stumbled upon a very easy to read guide of things to look out for when determining whether bitcoin is dead or not.
Check this baby out:
(Source: https://twitter.com/TraceMayer/status/1067839354444410882)
According to this chart, as long as bitcoin is settling large amounts of money every day, has a unit value greater than zero, and/or blocks are still arriving roughly every 10 minutes, bitcoin is alive and kicking!
Who would have thought?!
Not only is bitcoin not dead, a rally is likely on the way...
In all seriousness though, the next reward halving is in 544 days.
In the past, bitcoin prices have tended to bottom well before the halving date, around 1 year prior to be more precise (give or take a few months):
(Source: https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/)
We have roughly a year and a half until the next one.
You do the math...
What should we expect?
In terms of what to expect, pay special attention to what has tended to happen the year prior to, and following reward halvings.
Do you see what I see?
Stay informed my friends.
Image Source:
https://ethereumworldnews.com/bitcoin-is-not-dead-says-brian-kelly/
Follow me: @jrcornel
It still alive
Yes it certainly is.
You got a 6.26% upvote from @minnowvotes courtesy of @cryptoewp!
For some reason that made me laugh far too much...
Haha, the title or which part?
Nah, the chart I think it was mostly.
To halt its rally last time:
Basically, they did everything they could to keep new money out of the market. To stop new buyers. To stop the price.
Even still, bitcoin is up 4x what it was last year. Name anything else with that kind of ROI.
Further, don't look at the price, look at the investment into structure.
There are a lot of big companies putting money into infrastructure to handle cryptos.
It looks like we are finally at the point of early adopters moving into cryptos. Things are about to get dynamic.
4X from where it was at the begging of last year maybe. It is now down year over year.
But yes I do agree about the infrastructure being built out quite well over the past 12 months, and it continues to get better.
Yes, sorry, beginning of last year. I have no concept of time... or maybe no memory of time... or maybe calendars confuse me.
Lol could be. It honestly seems like it all has flown by to me. It has been almost 2 years since bitcoin was $1k. I can wait another 12 months or so to see new all time highs. :)
Your the kind of thinker i like i will follow this is good stuff man. And its FACTS
Just like US dollar, Bitcoin won't die even if the real value goes too low to display. There is universal agreement that US dollar and Bitcoin have value even if nobody use them. People can make any length lists of possible replacements for Bitcoin, but all of them have significantly less people backing or supporting them. Bitcoin might have major issues for various reasons, but other coins also have issues they need to resolve before they can replace Bitcoin as the de-facto cryptocurrency.
Yep, I agree 100%. Well said.
Bring on the rally baby! 👍💰👍
The bulls are making a rare appearance!
Thanks for the positive outlook, appreciate that and agree!
The reward halving can't get here soon enough!
I think bitcoin is still strong we just have some many big corporations and governments trying to keep there dollar STRONG resulting in GREED! Over all its BAD and if we all work for the greater good of bitcoin im sure the 99% can over power the wealthy and most powerful leaders in the world although this could take some time. Everyone would be better off useing crypto instead of USD right? Thats why we steemeins have to stay strong and adapt at times for the grater good.
I think bitcoin is going to have a very good 2019. Buying anything under $4k likely has a big payoff in my opinion.
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Hopefully you are wrong 8ball!
Very simple (but precise) analysis, and easy to understand! Well done @jrcornel
Yeah it’s far from dead, this is most likely the calm before the storm scenario.
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Yep, I think so as well. I think the next bull phase will be bigger than the last.