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Bitcoin (BTC) Has Died A Shocking 309 Times

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Bitcoin is dead

The fake news that Goldman Sachs has shelved plans to open a Bitcoin (BTC) and Crypto trading desk has been solely blamed for the crypto market turmoil that begun on the 5th of September and managed to sort of stabilize on the 9th. Many crypto-traders and enthusiasts were heartbroken that such fake news could be paraded as facts. They felt betrayed. Some pointed out that it was a lesson for thinking Wall Street will take cryptocurrencies to the next market Bull Run. It is with the above turmoil that many had declared Bitcoin is dead once again.

Turns out this is not the first time the King of Crypto has died. Forbes magazine managed to inform us that there is a tracker for the number of times Bitcoin has been declared dead by the media. Turns out that counter is at 309 times as can be seen in the screenshot below.

BTC obituaries. Source, 99bitcoins.com

It is a bit hilarious when you think of it. After the smile, we realize that Bitcoin is not going anywhere. Neither is Ethereum, XRP or any of the other digital assets that have declined by large percentages in the last few days. As a matter of fact, if you are a seasoned trader, the current market decline is a normal occurrence from where you stand.

The author of the Forbes Magazine piece goes on to make light of the situation, for he too is a seasoned veteran of the crypto markets.

“The sense of urgency is everywhere I look. Bitcoin is dying, and it’s time to get a new job. The warnings are stark. Bitcoin’s price has lost 70% since its $20,000 peak last year, the Securities and Exchange Commission has rejected every bitcoin ETF it’s seen so far and Goldman Sachs has delayed its much-touted roll-out of bitcoin trading.”

If BTC Can Survive the Mt. Gox Fiasco of 2013/14, It Will Be Fine

Many of us crypto enthusiasts can be blamed for being too nostalgic with regards to last year’s Bull run that had BTC touch the sky at levels of $20,000. Yes, we wanted the gains to continue but with every peak in any financial market, there is bound to be a fall in value.

One needs to only look at nature and observe how ocean waves travel. The key in crypto trading is to become one with the market turmoil as a surfer does when he balances his board on a magnificent wave that would scare the living daylights out of any regular person. It is perhaps prudent to refer to ourselves henceforth, as crypto surfers!

Any BTC HODLer who has been around since the Mt. Gox saga of 2013 to 2014, knows that the King of Crypto had declined to as much as $0.01 due to a hack at the exchange in 2011. From April 2013 to early 2014, the exchange was at the top of its game as it was handing up-to 70% of all online BTC trading. But it all came crumbling down due to a news report that the customers of the exchange were experiencing delays in withdrawing funds from the platform. Some even had to wait a few weeks for the transactions to complete. (Where was Ripple back then to complete the transactions in 3 seconds?)

In conclusion, the current market turmoil is not new to Bitcoin and the crypto markets. One needs to look at the number of times Bitcoin has died for you to accept that it will die a few more times in the future as well. With such knowledge, we can easily recover psychologically from each dip rather than musing about totally cashing out and forgetting about that Lambo.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Blockchain technology outshines Bitcoin and Gold during global pandemic

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As the popularity of cryptocurrencies such as Bitcoin begins to level up with investments made in metals such as Gold, together they have both made significant advantages for investors who have taken a leap to invest in them.

However, thanks to the pandemic and the dynamic shift in investing and the economy, many investors have seen fluctuating losses and gains thanks to the uncertainty of the current business world. 

Many investors that backed companies who have exposure to blockchain technology have seen an approximate amount of 54% return on investments over the past year. This is even after considering how hard the global tech market and companies have been hit since the beginning of the pandemic.

What is blockchain technology?

Blockchain technology was first introduced as a supportive technology for Bitcoin. A blockchain is a simple, unchangeable and un-hackable digital ledger that holds transactions in little blocks attached to a chain. The transaction is duplicated and distributed across the entire network of systems on the blockchain, making it available for everyone on the network to see. 

Each block in the chain contains various transactions which are recorded on the participant ledger every time a transaction takes place. The database is decentralised and is managed by multiple participants known as Distributed Ledger Technology (DLT).

Although blockchain technology was birthed from Bitcoin and was widely adopted for the use of cryptocurrencies, the way it works and its security has made…

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Bitcoin

Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC

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Cryptocurrency

The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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