Connect with us

Bitcoin

BTC has died 466 times –

Just before the FTX collapse, bitcoin was trading above the $20K zone and after the problems started to show and the company filed for bankruptcy, bitcoin’s price dropped close to 19% lower than it was days before the fiasco. According to the official Bitcoin Obituaries List, two more bitcoin obituaries were added to the list over the years due to falling crypto prices.

2 Additional Notice of Death Calls Added To the Bitcoin Obituaries Listing Following FTX’s Decease

It’s safe to say that the FTX collapse brought cryptocurrency prices down a great deal and since the demise, the Bitcoin Obituaries list hosted on 99bitcoins.com has added two deaths to the long list of written obituaries published since December 15, 2010.

According to the list, bitcoin has died 466 times since 99bitcoins.com started the deaths list. So far in 2022, roughly 22 bitcoin obituaries have been added this year, which is more than 2010, 2011, 2012, 2013, and 2020 in terms of deaths per year.

BTC Has Died 466 Times — 2 More Death Calls Added to the Bitcoin Obituaries List After FTX Collapsed
The Bitcoin Obituaries list hosted on 99bitcoins.com shows that Bitcoin has died 466 times since the first obituary was written in 2010.

The last two were recorded following the FTX collapse. The first came from Ramp Capital’s Twitter account. At the time of the published obituary, BTC‘s value was around $15,880. 78 per unit according to 99bitcoins.com.

“Crypto died today,” Ramp Capital tweeted. “I don’t see how it can recover from this. The generational wealth disappeared. Trust has disappeared.” Chetan Bhagat, an author, shared another statement and the second Bitcoin obituary following Ramp Capital’s tweet.

On Twitter, Bhagat said: “Crypto is now dead: FTX, a cryptocurrency exchange, collapsed last week, proving a lot of cool guys horribly wrong,” quoting an excerpt from his editorial.

A look at 2022’s bitcoin obituaries over the last three months, according to 99bitcoins.com.

Bhagat and Ramp Capital join the likes of the popular essayist Nassim Nicholas Taleb, the economist Peter Schiff, and many others who have also written bitcoin death sentences. While 2022 has around 22 deaths so far and the year is almost over, 2017 saw the most bitcoin obituaries added to the list.

A total of 124 bitcoin obituaries were added in 2017 and the second largest year was 2021. Both of those years were extremely bullish times for BTC‘s price as they both saw record-breaking price highs. Ironically, the very first bitcoin obituary notes that the “only thing that’s even kept bitcoin alive this long is its novelty,” yet the so-called novelty hasn’t worn off in 14 years.

The Bitcoin Obituaries list hosted on 99bitcoins.com is always a fun read, but not one of the so-called death calls has ever come to fruition. The recent obituaries of Bhagat and Ramp Capital are just a few more that join hundreds of others who believe that bitcoin will prevail.

The leading crypto asset bitcoin (BTC), however, is alive and well with its exchange rate beating like a heart. In terms of functional uptime, the Bitcoin network has been functional without missing a beat 99. 98785008872% of the time since its inception on January 3, 2009.

What do you think about the latest bitcoin obituaries added to the list following the FTX collapse? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Images via 99bitcoins.com

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Read More

Bitcoin

Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa

United States-based Strike users can now instantly transfer funds to Kenya, Ghana and Nigeria using the newly added feature “Send Globally”. This feature converts funds into local currencies before moving them to the recipients’ bank accounts or mobile money accounts.

The High Cost of Sending Money to Africa

According to Strike, a digital payment platform built on Bitcoin’s lightning networks, a new feature has been added to their platform that allows for instant, low-cost payments to Africa. The feature, known as “Send Globally”, is currently only available to US-based users. It applies to payments to Ghana, Kenya and Nigeria.

As the digital payments firm’s Dec. 6 press statement explains, the use of the Lightning Network’s rail makes transferring funds to any of the initially covered countries an almost costless exercise. According to a recent World Bank Migration and Development Brief, the cost of sending funds to the Sub-Saharan Africa region is currently the highest globally.

Direct deposits to the account

of the recipient

Strike has partnered up with Bitnob, an African payment platform, to overcome the cost and other difficulties associated with sending money across borders. Jack Mallers, founder and CEO of Strike, argued the case for the feature while he was still at it.

High fees, slow settlement, and lack of innovation in cross-border payments have negatively impacted the developing world. Payment companies in Africa are finding it difficult to do business. People cannot send money home because they can’t pay exorbitant fees for money transfers in and out Africa.

Mallers stated that users who wish to transfer funds to any one of these countries through Strike now have the option to “transfer their US dollars easily, instantly, across borders” via the new feature. Payments to any country are instantly converted into the appropriate currency and transferred to the recipient’s bank account or mobile money account.

The statement stated that Strike will continue to grow its payment service in Africa through integrations and partnerships, including with cross-border payment providers such as Chipper Cash.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Please comment below to let us know your thoughts.

Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author, and writer has been awarded the Zimbabwe Journalism Award. He has written extensively on the economic problems of certain African countries and how digital currencies can offer an escape route for Africans.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services in this article.

Read More

Continue Reading

Bitcoin

Back to basics as Dogecoin retraces to 78.6% Fib level. Here is the potential price action

Dogecoin (DOGE/USD) trades at $0.085. Just a week ago, the cryptocurrency had tapped the $0.15 level. The losses underline the meme tag associated with Dogecoin. The cryptocurrency remains under the mercy of bears if the price fails to overcome a key level. Dogecoin’s recent recovery has largely been pegged to Elon Musk’s acquisition of Twitter.…


Dogecoin (DOGE/USD) trades at $0.085. Just a week ago, the cryptocurrency had tapped the $0.15 level. The losses underline the meme tag associated with Dogecoin. The cryptocurrency remains under the mercy of bears if the price fails to overcome a key level.

Dogecoin’s recent recovery has largely been pegged to Elon Musk’s acquisition of Twitter. Had you bought DOGE before October 27, when he finalised the acquisition, you would have tripled your investment. That is if you exited your position on August 31. Now, days after sealing the deal, the excitement has subsided, and DOGE may need a fresh price catalyst.

Musk has kept mum over whether DOGE would be accepted as payment for the social media giant. The billionaire had in the past supported DOGE and hinted at its use in Twitter payments. So the probability remains, but the lack of open announcements has been slowing DOGE. Consequently, the token has lost the mojo it had started late last month. Consequently, we could see the price remain subdued even longer if positive developments fail to come by.

DOGE struggles to clear $0.09 after attempting recovery at 78.6% Fib. level

Source – TradingView

Turning to the technical side, Dogecoin has found little bullish footing since sliding to $0.07. The level is slightly below the 78.6% Fibonacci retracement zone. However, recovery has been muted by key resistance at $0.09, and DOGE is taking another dip.

Should you buy DOGE?

Dogecoin is a very surprising cryptocurrency. The smallest of news can make the buyers go crazy. Taking advantage of such moves can generate huge returns, irrespective of what the technical indicators show.

Nonetheless, the current sentiment is not only bad for DOGE but all cryptocurrencies. DOGE also suffers from the lack of positive mentions, such as the speculated use in Twitter payment. With this in mind, a bear market could be inevitable.

A technical outlook shows that $0.09 is a key zone for DOGE to break to go higher. To a technical reader, the meme cryptocurrency is not an attractive buy.

Where to buy DOGE

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


Buy DOGE with eToro today


Share this article

Categories

Tags

Read More

Continue Reading

Bitcoin

Bitcoin Cash negates potential bullish reversal zones. Are buyers to be optimistic?

If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. This level provided crucial support and the token formed multiple bottoms. BCH tested a lower level at $87 but has…


If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. This level provided crucial support and the token formed multiple bottoms. BCH tested a lower level at $87 but has since recovered to above $100. Do you need to be optimistic?

Cryptocurrencies are known for sudden moves in the market. Just as the slip below $110 happened unexpectedly for BCH, a recovery above the level can too. Buyers should remain optimistic and be prepared to purchase once this happens. However, this should not be taken lightly.

Crypto winter seems far from over as this week’s selloff shows. Recent headlines have been about macro issues. Investors have been able to build a thick skin against any macro forces, such as tighter economies. For that reason, most cryptocurrencies have been consolidating – an example of BCH at $110. The liquidity status of crypto firms seems to be a crucial factor that markets have lost sight of.

The collapse of FTX brought a new perspective on crypto markets – the financial well-being of exchanges and crypto firms. How many people will be able to survive the next bull market as recession bells ring? This fear will continue to ring and long-term recoveries will be limited. Do you want to snap BCH?

BCH regains – heading back to above $110?

Source – TradingView

A sharp sell-off made BCH invalidate bullish reversal signs already forming at $110. The MACD indicator is still in the bearish zone. However, the weak momentum has improved slightly. $110 is the level to watch.

Should you buy BCH?

If you’re a “buy now, buy tomorrow” type, it is better to stay away from BCH right now. The token’s momentum is weak and it will not generate any returns.

However, long-term buyers should consider BCH on their waitlist. BCH’s safety from a potential further slump will be confirmed if the token recovers above $110.

Where to buy BCH

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users have the ability to connect with, learn, copy, or get copied from other users.


Get BCH today
with eToro

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp, which is fully regulated, offers users an intuitive interface and high levels of security for digital assets. It also provides excellent customer support.


Bitstamp – Buy BCH Today


Share this article

Categories

Tags

Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.