The world's most steadily growing cryptocurrency, Bitcoin (BTC) has shed another billions in value over the past week during it's market carnage recently. And haters have come out in flocks. Moreover, according to many skeptics of crypto, bitcoin has officially died 21 times in the year 2021 alone and that this week's market downturn has elicited an entirely different eulogy altogether.
On April 14, 2021 the price of bitcoin (BTC) hiked to an all-time peak value of $64,895 per unit, and then afterwards declined drastically on May 19, 2021 some one month ago to $30,066, representing about a 53 percent drop from it's peak. Haters have therefore step out to troll cryptocurrency, especially bitcoin on Twitter, saying, "Bitcoin is dead now."
On Wednesday, May 19, 2021, bitcoin has reduced significantly in value from it's peak price (high price) exactly one month ago by a whooping 53%. Market trauma such as this causes numerous bitcoin skeptics to come out of the woodwork to tell the whole world that crypto is nothing more than a speculative tulip mania.
One of the leading haters of crypto, Nouriel Roubini, has tweeted on Wednesday, May 19, 2021 about the significant drop in the prices of bitcoin overnight:
"Bitcoin falls more than 40% from its peak in less than one month. Which institutional investors are reckless enough to invest in such a risky volatile pseudo-asset with no intrinsic value? Roubini questions. "They should be fired on the spot if undertaking a reckless speculative gamble," the skeptic further added.
Other skeptics including Tim Mullaney, an independent writer who wrote on the death sentence of BTC in his book, "The Harsh Truth About Crypto" published on May 18, 2021, also said that bitcoin is nothing and must surely to sentenced to death.
Meanwhile, droves of BTC supporters remain unperturbed and many believe that the bad times for bitcoin will soon be over. "For those new to crypto, please let me introduce our new friend honey badger. Honey badger don't care," Watchdog Capital's Bruce Fenton said on Twitter earlier today.
Come to think about it, every business has ups and downs as far as performance is concern. So what do you think about today's hate towards bitcoin's market downturn and the 21 bitcoin obituaries published so far?
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