On May 20th, according to foreign media reports, as the price of Bitcoin plummeted to 30,000 US dollars, mainstream media began to report the market crash again, declaring that Bitcoin was dead. According to the Bitcoin Obituaries of “99 BITCOINS”, the end of Bitcoin has been declared more than 400 times since its birth 12 years ago. After yesterday’s market crash, this number is still increasing.
This interesting Bitcoin obituary records all kinds of statements from claiming that Bitcoin is the largest Ponzi scheme in history to comparing Bitcoin to Monopoly Coin. And more than a quarter of the records are related to the Bitcoin bull market in 2017 and the subsequent crash.
Although negative reports about Bitcoin mainly occur when the price collapses, Bitcoin obituary data shows that such reports are not uncommon when the market is still growing. Criticisms about it cannot go around these points, such as the price volatility of Bitcoin, the mystery of its creator Satoshi Nakamoto, and its decentralized structure, making it easy for Bitcoin to be used in illegal transactions. In, these all make Bitcoin easily become a sensational headline. Not to mention this large-scale price drop. Bitcoin has once again become the target of bombardment.
But despite the market crash, some experts still believe that the stock market will rebound. Yesterday, British financial expert Charlie Burton and Dutch financial expert Michaël van de Poppe both responded in a live broadcast that today’s market turmoil is not the end of the bull market cycle.
Initially, Bitcoin’s vision was to bring financial freedom to the world. Even now, it can also bring well-being to people in economically underdeveloped areas. It can only be said that it is used more as a speculative tool by people. The stock market is risky, and investment needs to be cautious. This sentence can also be used for cryptocurrencies, but what’s wrong with them?
Reminder : Investment is risky, and you need to be cautious when entering the market. Digital currency investment has greater risks and unpredictability, and this article does not constitute any form of investment encouragement and advice.