Is Bitcoin Dead? They Don’t Want You To Know This Crypto Holders
Bitcoin is not dead. Far from it in todays video, i want to discuss why bitcoin far from being dead is actually looking better than ever well, except for the price anyway. But i do have something important to say on the price of bitcoin as well, so make sure to stick around until the end of the video to hear my thoughts on that my names lark. I make videos talking about investing, so if that is a topic that you like enjoy learning a bit about, then please do subscribe to the channel. Also, if you have a quick second, i know it takes a bit of time, just a quick second to tap on that thumbs. Up button just give us some love real, quick. That would be super freaking awesome by the way. If you would like to trade bitcoin ethereum any of the other top coins in the market, then you need to get yourself an account over on by bit. Obviously you can trade their very popular futures markets, but theyve also got great spot markets. You can trade nfts, you can get into token sales. You can use their earned features and much more use. The first link in the description down below and youre going to get a hundred dollars free trade when you sign up 30 off of your fees and up to 4 100 in deposit bonuses. So go ahead and check that out. If youre a trader now lets get into, this is bitcoin dead.
Well, google searches for bitcoin and dead have actually hit an all time high, so yeah investor sentiment certainly is dead, but bitcoin is not dead. Even if the media would like you to believe that it is, as this chart here from bitcoin magazine shows, bitcoin has so far been declared dead by the media over 400 times over the years and guess what bitcoins still here, still humming along making a new block. Every 10, damn minutes, as the ceo of binance says, every time the media declares bitcoin dead its a buying opportunity. Also. Can we just take a moment to appreciate that the newest bitcoin etf product that the scc has approved and what just launched will allow investors to short, bitcoin funny timing, isnt it market is nearing its lows and the sec still will not let investors get long term Spot exposure to bitcoin for that long term, holding stack, but guess what you can short the market. They really hate regular investors, and this is definitely proof that when you need some more proof guess when they launched their bitcoin long etf, you guessed it right at the damn market top what a joke. Once you go along when its up and short, when its down always remember, the game is to get the bitcoin from your wallet into their wallet and theyre, really good at playing the game anyway, i digress. I digress here are some of the stats and stories that you need to know and to hear right now to understand the bitcoin is not dead.
Far from it. In fact, first off lets take a look at the network, which is basically never been more secure than it is right. Now we have more than doubled the total hash rate for bitcoin in the last year. Now that is the computing power thats securing the network. Now this is the biggest and the most powerful and the most secure computer network in the world by a long shot. I would not fade that level of security and commitment by miners. Bitcoin wallets also continue to grow all the time, and the number of people holding at least one bitcoin has actually now passed. 866. 000. Now the number will probably be higher if we actually consider those people who are probably still holding you know theyre one bitcoin on an exchange account, so they dont actually have uh addresses being counted by the blockchain at this time and the total number of addresses holding 0.01 bitcoin has now passed: 10 million addresses thats, crazy and heres a cool fact as well. Since the start of the month, 18 633 new addresses have been added to the network that hold at least one. So it seems a lot of people understand that bitcoin is on sale right now, bitcoins not dead. Right now they took the opportunity to join the one bitcoin club they got their moon tickets secured congratulations! If that is you, i also want to show you this 65 of bitcoin, representing around 25.
The entire market cap of all cryptocurrencies has not moved in over a year. Those are the diamond hand laser eye holders theyre, not selling. Those are the people with the strongest conviction the people who deeply understand what bitcoin is all about theyre in it. For the long run. Those people apparently do not think the bitcoin is dead. In fact, investors see bitcoin as being so not dead that a recent bank of america surveys show that 90 of investors actually plan to buy more cryptocurrencies this year, not to capitulate and sell long term. Thinking is key in these markets: youre either an investor or an overnight gambler lets look at bitcoin layer 2 as well. We also see that you know far from being dead. The lightning network is growing. In fact, light network capacity continues to grow all of the time. In fact, it surged during the market downturn as adoption continues to grow, particularly in developing regions like el salvador, which is a big user of the bitcoin lightning network, hardly seems like a dead coin and we have adoption surging on level two and what about other kinds Of adoption, like retail adoption well mark it up, mark it down. Adoption stories continue to roll in just the last few weeks. Weve had a whole bunch of stories come in again, for example, luxury watchmaker hublot will be accepting bitcoin in exchange, for their watches probably spend some dirty fiat on watch personally, not my bitcoin, but anyway.
If you want to, we also have spanish airline whaling, which will start accepting bitcoin for travel on their planes. Thats pretty cool like hey. You know bear market in full swing, its good to see a budget airline actually adopting bitcoin for some broke ass bitcoiners, who cant afford to fly first class anymore anyway. Retail adoption is nice. Retail adoption is continuing all the time. Weve covered 150 200 stories. In the last year about it, but what will really move the needle are stories like this one coming out of the usa, senator loomis and senator gillibrand. They have introduced landmark legislation. This just happened a couple weeks ago that would finally provide the kind of comprehensive regulatory clarity. The market has been begging for for years, because, obviously, obviously when something is about to die thats when you bring in lots of common sense, sweeping regulations to encourage the industry and to protect investors duh now, obviously, bitcoin is not dying. In fact, when this regulation gets passed, it could be the spark that lights a whole new bull run. And, finally, you may be thinking well, lark, look come on man thats, all great nice, but really who cares? The price is down and thats all that matters. Therefore, bitcoin sucks bitcoins a huge scam im, an idiot for having bought it im out. Yeah yeah, i know i know weve all been there. Bear markets are tough, but look these drawdowns are normal for big.
Remember. We said really volatile its true here youre experiencing it. Anyone whos been into bitcoin for more than basically a year at this point has experienced loads of crazy price action, huge bitter drawdowns, heres a nice little cartoon for you on the simple power, though of just stacking satoshis, consistently buying bitcoin and holding it for the long Term mark it up mark it down just keep stacking. Those damn sets rain or shine if youre feeling bad, because you bought bitcoin at a higher price, then buying now actually helps lower your average cost of bitcoin. So lets say you bought one bitcoin at sixty thousand dollars, ouch. Okay, i get it now lets say you buy another bitcoin at twenty thousand dollars. Guess what now? The average price that you paid for your two bitcoin is forty thousand dollars, which doesnt actually sound that bad and what, if you buy two bitcoin now for twenty thousand dollars? Well, guess what then, the average price that you paid for those three bitcoin drops down to thirty three thousand dollars again: doesnt feel that crazy, when you think of it like that, but most people dont do that. Instead, they think, like this bitcoin at twenty thousand dollars, going to zero next thats, the next logical destination for the price right. The reality is that dollar cost averaging, especially during these bearish periods, powerful stuff man, especially if you believe like i do that bitcoin can and will reach a million dollars one day look even if its only a quarter right, we only get 250 thousand dollars or we Get to the market cap a gold half million dollars, then thats big stuff.
This chart here from arc invest underlines how we can realistically see bitcoin reach such fantastical sounding numbers and look if youre saying look thats crazy, its not possible bitcoins, never going to do that. I want you to remember: people have been saying that it is not possible for bitcoin to do any kind of price action since 2009, when the first bitcoin was mined, never gon na reach a hundred dollars, never gon na reach a thousand dollars im gon na reach. Ten thousand dollars, etc, etc. You get the idea. Bitcoin has been basically proving the haters proven disbelievers wrong ever since every 10 minutes, a new block, a new block, a new block thats how it works anyway. What do you think is the media right? This time is bitcoin done and dusted. Is it dead or the best days of bitcoin still ahead of it? Let me know down below in the comment section thanks so much for watching todays, video and peace out till next time.