Is Crypto Dead
A curious page tucked away in the folds of the Internet claims that Bitcoin has died 460 times. The site’s methodology is somewhat loose and the obituaries are clearly meant for satirical value, but it’s still striking how many bitter feuds, billions lost, regulatory crackdowns and speculative manias crypto has survived.
Some people use this gloomy data to imply that Bitcoin is dead, or at least that its long-term survival is in serious doubt. However, it’s important to remember that Bitcoin is not the only cryptocurrency. In fact, there are hundreds of other options on the market and a significant number of them have survived countless attempts to kill them off.
For instance, one of the most popular theories in crypto is that Ethereum will eventually rise above BTC in terms of market cap and dominance. It is known as The Flippening, and it has been a popular theory in the industry for years. It has never happened, but it is far from impossible to imagine ETH overtaking BTC as the most popular crypto.
There are also coins that have managed to survive even after their ICOs have ended. While this is a positive development, it is worth noting that some of these coins are destined to die. Most of these dead coins have negligible trading volumes, which is a sign that they are no longer supported by their developers. This is especially true for projects that were involved in pump and dump schemes or pre-mines.
Aside from the high number of dead coins, there are other signs that not all is well in the crypto world. For example, Bitcoin’s mining community is dwindling, and this could spell disaster for the industry as a whole. The reason is that mining is an essential component of most cryptocurrencies, and as such, it is vital to their success.
Another worrying sign is that the major crypto exchanges are losing customers at a rapid pace. This is a clear indication that crypto investors are not happy with the current state of the industry, and it’s not hard to see why.
A lot of the issues that are plaguing the crypto market right now are a direct result of US regulators’ anti-crypto attitudes. This has been made evident by the way they are chasing down crypto companies that have failed to comply with U.S. securities laws. For this reason, it is no wonder that some people believe that crypto has come to an end. Nevertheless, is crypto dead is that a lot of these fears are unfounded. It is important to note that the market has survived much worse in the past, so it’s unlikely that it will collapse this time around. There are also some signs that suggest the opposite is true, and that crypto will continue to grow in popularity. However, it’s essential to keep in mind that the future of crypto is ultimately up to the masses.
