Hi guys! Good to have you back on my Blog. In today’s article, I want to share my viewpoint about the current trend in Bitcoin, and whether it’s dead or not.
If you’re familiar with the cryptocurrency space, you will know that the price of Bitcoin has been plunging downwards since it reached it’s all-time high of $20,000 in January 2018.
Needless to say, Bitcoin is currently at the $3800 mark and many believe it’s now dead but I don’t think so. Let me explain below👇.
1. Bitcoin Trend Since 2008
Below is the Bitcoin trend since it was launched in 2008. The search volume on Google had returned back to its initial range before the 2017 bull market.
The price of Bitcoin reached it’s peak in January 2018 and began to drop. Similarly, the search trend and popularity of Bitcoin followed. To me it’s not dead, the trend had just gone back to normal.
2. More Bitcoin searches are surfacing in Africa.
Let me bring this to your notice, Nigeria is among the top countries with the most Bitcoin searches within the previous year, followed by South Africa then Ghana. This suggests that Africa is now catching up.
3. Bitcoin has had only 2 negative price years since 2008.
Since the inception of Bitcoin, it has only had a negative year twice(which is 2014 and 2018). This suggests that there’s much tendency the price will still increase.
4. Bitcoin is still a good investment
Also worthy of note is the fact that, if you had bought Bitcoin in 2012, you would still be profitable at the current price of @$3800. Does it still look dead🤷♂️? Nop, I don’t think so.
I believe with this few points of mine, I have been able to convince you that Bitcoin is not dead. And very soon we would see another boom or consecutive increase in its price.
Besides, it might still take long for Bitcoin to start going north(up) but it will definitely do and at a very fast pace. So I advise you do your research and due diligence, and if possible buy some while you anticipate Bitcoin price to the moon.
Thanks for reading. Stay blessed and share your thoughts in the comment box Bellow👇👇👇.