Is this the beginning of the death of Bitcoin? Well, the topic is now resurrecting again now that Bitcoin just experienced one of the biggest bloodbaths ever in its trading history. And this the trend right now for the whole cryptocurrency market...we are seeing waves of red all over.
No wonder the FUD community is now having a fiesta...they think that this can be the start of the end of the world...I mean the end of Bitcoin and that it can crashed soon towards the $100 price.
Are they kidding me?
There's no enough reasons to tell that bitcoin will die soon. Bitcoin have been through all these kinds of situations in the past, but in the end, it is still alive. The biggest threat on bitcoin, in my opinion, was the hard forking that happened last August 1. Many bitcoin users, including miners and traders, were afraid of the worst thing that might happen to bitcoin that time - that it will drop to 50% of its value that time. But what did really happen? Bitcoin cash was created from bitcoin, and the value of bitcoin increased to 100% (doubling its value).
I think, those who are saying that bitcoin will be gone soon are those people who are planning to create another crypto to compete with bitcoin, which I think is very far from reality to happen.