Well, let’s take a look at the relevant data. Current price: $7,099.
Current Market Cap (Price x 24 Hour Trading Volume) – $122,329,013,094. $122 Billion worth of Bitcoin has been traded in the last 24 hours. That seems quite a bit like “not dead”, I’d say.
And if Bitcoin were dead – chances are high that institutional investors would not be pouring billions of dollars into it.
And various derivative products wouldn’t be enjoying so much success, if Bitcoin were dead … or dying … or even had a severe case of the sniffles.
And Bitcoin-only investment firms wouldn’t be making so much money that they’d have to figure out some way to spend it.
Just because the market has been down a bit (pun fully intended ….) compared to a few months ago — that doesn’t mean that Bitcoin, and related profit opportunities – are not alive and kicking — because they are.
And some people look at Bitcoin’s $7,000-ish price now, and say “but wait – Bitcoin was $20,000 right before New Year’s!” Very true – and some unfortunate people bought into the bubble at that time. However, a year ago today, Bitcoin was selling for $4,382 – making $7,000 a nice return on investment.
Two years ago today, Bitcoin was selling for $574 – making $7,000 that much better, as a return on investment. Week over week, or month over month views of Bitcoin may cause rumors of its death to be greatly exaggerated.
Year over year – Bitcoin seems to be alive, well and thriving. Which is why we’re starting to see billions of dollars of institutional money flow into Bitcoin.