Did Bitcoin actually died ? Yes, more than 320 times already

[AlternativeFill]

A certain disillusionment is affecting the crypto-active markets, while Bitcoin prices are flirting dangerously around $4,000. Since the record set in December 2017, its value has fallen by 78%, causing the American economist Nouriel Roubini, Bitcoin's well-known opponent, to say that "the mother of all bubbles has now burst". To say that he is going through a difficult period is a euphemism: it is no secret that a crypto winter has been installed. Nevertheless, Bitcoin's history has shown that every time he was promised death, it emerged stronger.

In traditional finance, a crash is generally defined as a fall of at least 10% in a single session. For Bitcoin, the volatility is such that it is not interesting to count them as it is customary to observe such variations.It is preferable to focus on correction periods, named after these more or less sudden downward movements, stopping a general upward trend, affecting assets that are probably overvalued. They may lack fundamental reasons or simply obey a profit-taking by investors. Here are all those that have exceeded 30%.

The worst correction observed occurred between November 2013 and January 2015, causing Bitcoin to lose 87% of its value in 411 days. This collapse is similar to the one currently underway, but 2014 was also marked by the bankruptcy of MtGox, at the time the world's leading trading platform (nearly 80% of flows). Many users had lost access to their Bitcoins, throwing a great wave of pessimism into the area. Nothing to do with 2018, as favorable news from Wall Street is accumulating.

The question now is how far will the 2018 correction go? Can it go to zero?

In the case of a company, even if it is bankrupt, the value of its walls or machinery prevents it from reaching this threshold. For Bitcoin, you have to ask yourself what its core value is.  What value can this have in Europe? Almost nothing, given that our banking system works relatively well. But the question must be asked differently in other parts of the world, such as Venezuela, where Bitcoin is increasingly being used to escape hyperinflation in the bolivar (the IMF expects +1,000,000% over the year). In Caracas, it is perceived as a store of value and a way out of an authoritarian state.

Bitcoin's weakness lies in the effectiveness of its protocol, which allows you to send value online without the need of a trusted third party. The level of his course is ultimately of enormous importance.

[dothebeats]

Tl;dr - bitcoin is never going back to zero. With the number of rise and falls bitcoin has had in its entire existence, it's not surprising anymore to see such steep falls and insane climbs. No matter how many financial experts state that bitcoin is dead after a steep fall, the market always decides otherwise, and we see it climb after a short while. With the number of infrastructures established and organizations involved, it's almost impossible for bitcoin to fall to zero no matter how hard the crashes be.

[ATMD]

With the growing number of infrastructures and institutional investors in Bitcoin, I think it possesses substantial market value.

[Upgrade00]

After ten years of staying in the market, Bitcoin has already proven that it is here to stay, and the market movements has become very common and should not be the reason for talks about bitcoin dying
I don't see it's value getting to the zero mark, it may not have physical value, but there are lots of supports which would keep the price above that range.

[globalcitizen]

Bitcoin did not die and will not die. At least, not in the nearest future. The usefulness of bitcoin is not just in its worth as a store of value but also as a medium of exchange. It is worth much more than its daily fluctuations in value.

[avikz]

The question now is how far will the 2018 correction go? Can it go to zero?

It will never go to zero unless there are zero miners available for mining bitcoin till the time bitcoin is minable. But that is never going to happen. Bitcoin price has always been fluctuative since its inception. Those who have invested during late 2017, are probably crying foul if they are not identifying the current opportunity.

No one knows how far the current situation will go. In fact no one will be able to tell you for sure! All we can do is speculation. So I would refrain from doing that but I am not loosing my hope on bitcoin.

[avarnet]

Bitcoin did not die and will not die. At least, not in the nearest future. The usefulness of bitcoin is not just in its worth as a store of value but also as a medium of exchange. It is worth much more than its daily fluctuations in value.

That's right even though the price of bitcoin is decreasing it does not mean that bitcoin will die because this year not only does Bitcoin fall but all the coins also experience it, and I'm sure also later Bitcoin and other crypto will recover and soar too

[greeklogos]

Bitcoin will die one day for sure but the fall from 6k to 4k can't be called as death. Just like the author says it died hundred times already, if to count every drop as death. I do not know when bitcoin will totally disappear, but what is happening today is not the end for sure.

[tahozor]

Blockchain does not care about the price of Bitcoin or what the media is saying about it - it just works and continues to create a new block of transactions every ten minutes. Until it stops, he is alive. It just keeps moving forward, one block at a time, step by step.

[a4techer]

How did you say that bitcoin died 320 times? Do you have basis? Or your basis was the dumping of value blog bitcoin?  Because if dumping is your basis you are wrong that is not the basis of being bitcoin died and bitcoin will never die. Bitcoin or cryptocurrency  was always fluctuated and this is normal and not the sign of 320 times died. You didn't understand what are you saying.

[longyenthanh]

And this is the truth that has happened a great number of times:

https://cointelegraph.com/news/bitcoin-dies-for-the-300th-time-trading-at-7300

I am surprised that people are so surprised that the price has dropped by 80%. Just look at the historical charts to see that it has happened several times and I am sure that it will happen many times more ... 

[MI6]

Not really care it called die or what, i join bitcoin when it is on cheap price although not like when it first launched and price now still better than it. As long we can get profit from bitcoin it is worth to keep support it.

[qtronix]

Yes, you correctly noticed that bitcoin has already experienced such falls when the news was even worse. But now we see what he's capable of. Even if this fall takes a long time, we will still come to growth. Don't even doubt it.

[wumBowo]

perhaps the number you got on your title is based on this site https://99bitcoins.com/bitcoinobituaries/ ?
despite with  the high number of the dead of bitcoin, i hope we can recover and will make the price of bitcoin will be more stronger

[JPSelzer]

I don't even know what else can make people believe in bitcoin. Enough to see what he had achieved. With each drop in prices, many are beginning to bury bitcoin, unfortunately it will never end apparently. But I still believe in him and I have no doubt that he will survive.

[Herbert2020]

when you look at the history you can always see a lot of topics on this all over the internet where they talk about bitcoin's death just because price has dropped down! and so far at least 90% of them have been posted by those people who wish for the price to go a little lower so that they can buy more bitcoin.

at times like this, there is always a lot of topics doing the same under a different pretense while they try to hide the FUD with a mask.
as soon as rise starts this becomes more severe as they miss the opportunity to buy since they were waiting and then it vanishes suddenly as the same FUDers start FOMO buying.

[Olayinka225]

No bitcoin didn't die, hasn't die and won't die.
Even if we say bitcoin has died, then we shouldn't been still hearing about bitcoin or neither will it have value in the market again but will read -0.00000000..... with negative value, but it isn't and that says it didn't die. Just that, there's a very bad plunge in the price over month's.

[Haunebu]

Tl;dr - bitcoin is never going back to zero. With the number of rise and falls bitcoin has had in its entire existence, it's not surprising anymore to see such steep falls and insane climbs. No matter how many financial experts state that bitcoin is dead after a steep fall, the market always decides otherwise, and we see it climb after a short while. With the number of infrastructures established and organizations involved, it's almost impossible for bitcoin to fall to zero no matter how hard the crashes be.

Agreed. The only way that Bitcoin will go back to zero is when everyone loses internet access around the world or if everyone dumps Bitcoin which are both totally unlikely which is why I always say that Bitcoin is here to stay.

The question is how many alternate cryptocurrencies can survive in the long term? My answer is that it is a small number(Less than 200 most probably) which is a good thing in hindsight since only the strong and popular coins will survive.

[Pursuer]

Tl;dr - bitcoin is never going back to zero. With the number of rise and falls bitcoin has had in its entire existence, it's not surprising anymore to see such steep falls and insane climbs. No matter how many financial experts state that bitcoin is dead after a steep fall, the market always decides otherwise, and we see it climb after a short while. With the number of infrastructures established and organizations involved, it's almost impossible for bitcoin to fall to zero no matter how hard the crashes be.

Agreed. The only way that Bitcoin will go back to zero is when everyone loses internet access around the world or if everyone dumps Bitcoin which are both totally unlikely which is why I always say that Bitcoin is here to stay.

The question is how many alternate cryptocurrencies can survive in the long term? My answer is that it is a small number(Less than 200 most probably) which is a good thing in hindsight since only the strong and popular coins will survive.

well in my opinion people define "survival" wrong when it comes to altcoins! as you can see there are currently more than 2000 altcoins in the market and they have "survived" in the long run. many of them were created years ago and now are so cheap that you can't even buy then with bitcoin. you have to pay something like 1 Dogecoin to buy 100 of it. that is how cheap they are!
well that is not survival. survival of a cryptocurrency is when the yare used as a crypto-"currency" which is not the case for 99% of them so 99% of them are already dead although having high ranks in market cap.

[BitcoinHodler]

The question now is how far will the 2018 correction go? Can it go to zero?

this is not a correction anymore. this is more of a manipulation and because of that you can not predict its bottom. but the only thing you can be sure about is that no matter how strong the whales who are manipulating the price are, they will never be able to crash the market as much as bringing it to 0.