Soon the death of Bitcoin (BTC)?

Definitely the Bitcoin (BTC) it is the cryptocurrency that has had the most impact since its launch. With a price that has literally soared since its fragile beginnings, after several periods of falls and rises, it arouses the perpetual interest of investors. From now on, the questions are different. More and more people are interested obituaries of Bitcoin, that is, the number of times it is declared “dead.” Between expert predictions and simple rumors, we help you see things more clearly. Here’s everything you need to know about the price of Bitcoin and its future.

  • Bitcoin Obituaries, What Is It?
  • Is the European Union conspiring against Bitcoin?
  • A further rise in price is expected

Bitcoin Obituaries, What Is It?

The term obituary seems inapplicable to crypts, and yet is commonly used. Especially in its English formulation, known as “Bitcoin Obituaries”. The site of the same name lists all official crypto deaths. In other words, it is a great loss of value for the crypto, which brings it closer to losing interest. In order to register a new obituary, several conditions must be met. Among these conditions, we highlight for example that the death or loss of value of Bitcoin must be the subject of an explicit announcement in an article. Or appear on a site or Twitter account with a large audience.

2020 is proving to be an interesting year from the perspective of Bitcoin obituaries. More precisely in terms of their number. Compared to 2021, the latter have done so decreased by 52%. His most recent obituary was on June 7, 2022. Renowned engineer Stephen Diehl spoke about the terrible state of cryptocurrencies. According to him, the cryptographic industry is not well adapted to large-scale exchanges and is at a loss. Is this reality? Bitcoin has no future? What about so-called cryptocurrencies? Unexpectedly, individuals are not the only ones interested in these issues. Governments, and even the European Union, do not hesitate to give their opinion.

Is the European Union conspiring against Bitcoin (BTC)?

The EU’s interest in the cryptocurrency sector may surprise many. And yet it seems logical. Although it is a decentralized financial system (DeFi), the crypto universe remains a financial system in its own right. Given the importance of the flows it generates, and the ever-increasing number of cryptographic users, it seemed inevitable that the European Union would be interested in it. Yes, but from what perspective?

Against all odds, European authorities are accused by some of conspiring against Bitcoin. Confidential documents are said to have been leaked and confirm the rumor. We can read closed-door exchanges between different state officials, dated November 2021. The possible bitcoin ban it was openly mentioned, as well as the trade of all crypts in general. This is reminiscent of China’s hostility to cryptographic mining. As a reminder, only until the end of 2021, Ethereum mining was still a victim of this decision by China. The Chinese government has been quick to point out that Bitcoin and Ethereum are not legal tender in China. As a result, many prohibitions apply. We can cite, for example, any digital activity related to cryptocurrencies, the issuance of digital assets or even currencies strictly prohibited for Chinese citizens. A list that is likely to grow in the near future.

A further rise in price is expected

Bitcoin obituaries are one thing. His real death is another. Certainly, like other years, the king of the crypts was declared dead several times in 2022. However, it is essential to note that long-term forecasts for his course remain particularly optimistic.

On Monday, June 13, however, the week started strong for Bitcoin, with a loss of almost 15% in a few hours. He managed to overcome all the most pessimistic forecasts by reaching an impressive price of $ 20,500. Despite this record, it seems to have not reached its limits. In fact, experts agree that the price of Bitcoin (BTC) could still rise again. Tom DeMark Sequential Indicator confirms this information, projecting the $ 33,000 threshold to be reached in a few weeks, and $ 38,000 by the end of the year. So no, Bitcoin is not dying at all. Quite the contrary.

The period is bloody, and many losses are unfortunate. But while it lost a battle, Bitcoin (BTC) did not lose the war. And before you kill such a ferocious beast, much more blood will have to be shed.

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Alt Write SEO

Founded by Marc-Antoine CAEN POLETTI in 2021, Alt Write SEO is a content writing agency specializing in cryptocurrency, blockchain and NFT. It has its roots in 2016 with the French cryptocurrency club, of which Marc-Antoine is the current president. Our mission is to support French-speaking crypto-speaking companies to make France the world’s first crypto-nation.

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