BITCOIN IS DEAD AGAIN
I am happy to announce to you that Bitcoin the mother of all cryptocurrencies just died the 414th time.
The cause of death is well known and we are glad it did so.
It is widely speculated that the so-called doge-father after a brawl on Twitter decided to put his stock of bitcoin for sale. Many also suspect the current death was orchestrated by a group whose motive is to buy all that the newbies had and then move it above their reach.
The oldest death of bitcoin occurred on the 15th day of December 2010, and the announcement even though its publishing website is rather dead went like this; “Negative feedback loops like this are basically homeostasis. In nature, positive feedback loops like that exist with Bitcoin are lethal; the only thing that’s even kept Bitcoin alive this long is its novelty. Either it will remain a novelty forever or it will transition from novelty status to dead faster than you can blink” and the publication was titled “why bitcoin can’t be a currency”
This was when bitcoin crashed from $0.28 to $0.25 only for bitcoin to climb up over $1 the next year.
The recent death which happened mostly on the 17th and ended on the 18th of May 2021 was dubbed “The harsh truth about crypto”.
The current crash saw bitcoin falling to a 200 day low and that’s from a little above $56,000 to $30,000 and this is the 21st time it died this year. But fiercely bitcoin is fighting back and it is now trading a little below or over $40k with over a Million addresses recording purchases all over the web including Justin Sun who announced he bought over 4000 pcs of Bitcoin during the dip.
Clearly, based on data and fact Bitcoin’s death is mostly a gateway to greater things.
Historical Bitcoins Yearly Death Chart.
The year-on-year deaths show bitcoin rose so much bigger and higher than what was, is, and has been since its inception.
But the good side of the story as shared on Facebook by Cryptolib “Just don’t miss the opportunity when it gets to its bearest minimum. Bitcoin’s value is not only in its price”.
As we say, bitcoin goeth to the moon comes back to earth to pick with him more disciples.
Know of any other death share it with us in the comment session.
