BITCOIN IS DEAD!Explanation
There is an energy and raw materials crisis all over the world (in connection with situation in UA). People in Europe are switching to coal. Ethereum swithing to a less energy-intensive model PoS
BTC is doomed to extinction if it doesn't switch to PoS. But if BTC will be switch to PoS - then it will cease to be BTC
https://i.ibb.co/bK1k1CS/dead2.pngThat's why BTC is dead. In the conditions of the world energy crisis, it is becoming more and more difficult to mine BTC (especcially on PoW model)
Bitcoin and Its Failing Technology...On analyzing the history of Bitcoin, one can see a shift from currency to an asset exhibiting store-of-value properties. This transition has probably left the technology of Bitcoin to play catch-up. In a world as fast-paced as ours, Bitcoin's technology is running behind by at least five years.
Energy efficiency and scalability are two of the most severe issues Bitcoin faces. If not addressed, these issues could very well dethrone Bitcoin.
POW or Proof of Work is the core technology behind Bitcoin, and without delving deep into the technology, one can ascertain the fact that POW is not in the best interest of today's world. Recent studies show that energy consumption from Bitcoin mining around the world could equal the energy consumption of a whole country.
Moreover, if Bitcoin is to fulfill its true goal and be the currency of the people, as it was supposed to, it has to be more scalable. And scalability is one of the reasons that has hindered the mainstream adoption of Bitcoin...
https://toughnickel.com/personal-finance/5-Coins-that-can-be-Bitcoin-Killers If you’re saying this because of how low it currently is then I don’t know.
It is a constant cycle of bull and bear market.