RATE Group | Bitcoin is dead, long live Bitcoin
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Bitcoin is dead, long live Bitcoin

14 Mar Bitcoin is dead, long live Bitcoin

Posted at 11:45h in Bitcoin News by

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The mother of all weeks has seen Bitcoin in freefall. The biggest price drop since 2013 followed a WHO announcement of a global pandemic, and President Trump’s ban on flights between the US and Europe. Uncertainty gripped the financial markets, and sent cryptocurrencies plummeting along with other assets, stocks and bonds.

On Thursday, Bitcoin had its worst day in history. Its price dropped from $7,900 to $4,600 over 40%. It then continued to drop, reaching a low of $3,850. 

While it’s bounced back to over $5,000 since then, the Fear & Greed Index is still at “extreme”—showing the market is still fearful.

But we’ve been here before right? Bitcoin has died approximately 380 times. And it’s still here. So is Bitcoin really dead this time? 

Bitcoin will come back from the dead

Erik Voorhees, CEO of Shapeshift crypto exchange, thinks the idea is ridiculous. 

“No, Bitcoin as a store of value isn’t dead just because it had a super shitty day,” he tweeted. “In…

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