Is crypto dead, or is it just getting started? Discover why crypto is down today and unpack how FUD has afflicted a post-halving market.
What’s the next grift now that crypto is dead? After all these years, there are ZERO real-life use-case scenarios – WTF happened?
We’re here to say that fear, uncertainty, and doubt (FUD) like this is nothing new. Bitcoin has “allegedly” died 477 times and we’re the number one site that documents it. The truth is crypto never dies – period.
If you’re asking, ‘Now that crypto is dead, what’s the next big thing?’ The next big thing is crypto – don’t play the paper hand. Here are three reasons why.
Why is Crypto Down Today? Is Crypto Dead? Here’s 3 Reasons to Bust the FUD
"Crypto really does seem to be imploding. Went from $3 trillion to $1 trillion. Why should it stop at $1 trillion? There's no real value there," says @jimcramer on #crypto. "What an awful asset. NFTs sold to you. Made up." pic.twitter.com/09e5ST8q0N
— Squawk Box (@SquawkCNBC) July 5, 2022
1. ‘Crypto is Dead:’ The Digital World Is Growing Exponentially
99Bitcoins analysts found that Bitcoin critics often don’t understand the size of the digital economy. They say, “But the virtual world isn’t that important, man!” Then these same people go advocate for remote work, social media, and gaming.
They are also the same people who don’t realize that in-app purchases account for 48.2% of total app earnings and that digital item transactions in video games are a $35 billion empire.
We’re already living in a metaverse, the first version at least, and one of the updates we need is virtual money:
“I think the internet is going to be one of the major forces for reducing the role of government. The one thing that’s missing but that will soon be developed, is a reliable e-cash.”
— Professor Milton Friedman in 1999
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2. ‘Crypto is Dead:’ Jurrien Timmer and Raoul Pal Makes Epic Bitcoin (BTC) Comparison With Legacy Assets
Last year, Fidelity’s Director of Global Macro, Jurrien Timmer, published a risk-reward analysis of various assets, including Bitcoin (BTC), and the results are shocking:
Where’s BTC you might ask?
It takes two images to get the scope of the chart. Bitcoin and crypto at large are alien assets that in a world that loves money printing – the Fed and UK printing more than 1/3 of the total money supply ever – will see crypto continue to succeed.
3. Governments Like Crypto More Than You Know
If the government had crypto in their crosshairs, then 81 of the top 100 companies in the world wouldn’t be moving into blockchain tech.
According to research published by BlockData, of those 81 companies, 65 are actively developing blockchain products, while Microsoft, Amazon, Nvidia, J.P. Morgan, Walmart, Alibaba, PayPal, and Google are among the 27 companies with live blockchain projects.
While 99Bitcoins understands the appeal of publishing “Bitcoin is dead” articles, anyone who brings up government regulation as a drawback isn’t in the game.
The Bottom Line – Crypto Never Dies – HODL.
“It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.”
– Satoshi Nakamoto
— Bitcoin (@Bitcoin) February 4, 2020
As a result, many top cryptocurrencies will never again go down to $1,000 because it hit $17,000, and there are too many millionaires in the world that would buy all of it if it fell that low.
Every time we make a new all-time high, the floor gets raised. That means if you’re reading this, you’re still early.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
