Death of Bitcoin & Crypto Market “Greatly Exaggerated”: Global Crypto-asset Benchmarking…

Having crashed about 82 percent from its peak, Bitcoin has been proclaimed a bubble and dead. However, the latest report, 2nd Global Crypto-Asset Benchmarking Study by the University of Cambridge, it’s greatly exaggerated as the expansion is just delayed and millions of users have entered the ecosystem.

Bitcoin becoming the Biggest Buying Opportunity of Year

Bitcoin has slipped down to $3,400, losing about 82 percent of its value since its all-time high. The last time, Bitcoin went this low has been in mid-September, 2017. Various experts and analysts are predicting more drop in prices, calling out a death spiral.

“Some people assume that if [death spiral] happens, then a lot of miners will say ‘okay, I’m not making enough profits anymore because the hash rate has dropped 50 percent, so I’m going to turn off my mining’ which then causes to drop even further, which causes it to get even slower, which causes to drop even further, drop slower, death spiral, difficulty…