The search on Google for the phrase “Bitcoin is dead” & “BTC dead” have gained popularity since last some days. It also increased with critics. Who claim that the best cryptocurrency will never be restored? The last two weeks have been tough for the bitcoin as its price has dropped below $18,000.
According to the BTC obituary list, the best cryptocurrency has died 455 times so far. By 2022, BTC has been declared dead 15 times with a recent obituary written by Euro Pacific Bank owner Peter Schiff predicting BTC will not recover”
Short Term Investors of Bitcoin are restless
The investors who have invested in BTC for short term are worried. On the other hand, the long-term investors are not restless as they have already gone through the 73% decline before. But earlier crashes did not remotely involve the total market capitalization lost during that crash, nor did they involve a massive leverage effect. This collapse has only just begun. “Bitcoin is not recovering,” Schiff tweeted on June 18.
However, it will once again demand the pass of $20,000, which the chef thinks is nothing “excited” about.
“Do not worry about #Bitcoin coming back for more than $ 20,000. 20 is the new 30. It’s just another bull trap. Nothing falls in a straight line. Actually, this deceleration accident was very neat. Schiff wrote back on Twitter on Monday (June 20), there are no signs of giving up, which usually forms the bottom of a bear market. The rally in the price of
BTC over the past two days was mainly due to an increase in buyers looking to own the cryptocurrency at a cheaper price. However, BTC trading charts show that it is still declining.
Crypto industry experts in India suggest that BTC could fall below $17,000 if current buying momentum weakens.
