Top three Bitcoin FUD points: Death spiral, BTC value is going to zero and Next-gen Blockchains
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Although these statements have already been rejected, they keep targeting the crypto community. For example, how many times have we heard that China has prohibited bitcoins or mining activities are destroying the world? There are many FUD topics spread over mainstream media and other newspapers in relation to bitcoin and cryptocurrencies.
What happens is that the prices go down and the miners are not able to continue their operations. The term is related to the decline in the price of bitcoin and the miners who leave the Bitcoin network and keep it safe. One of the main issues arising during the last months is the so-called death spiral.
However, compared to a year ago, the network has experienced a significant increase in hash rate, which is equal to 245%. And in fact, from its all-time high in August, it fell 50%. When this happens, the hash rate of the entire network falls.
This allows new miners to enter the market and reduce breakeven. Which it not even is close to being as the hash rate decreases, 51% of attacks can be easy, which is automatically adjusted. Since the network hash rate drops, there is also the mining difficulty of bitcoin.
Bitcoin is falling throughout the year. Many people are saying that Bitcoin is going to reach $ 0 in the future. Another FUD spread in the market is related to the price of the most popular virtual currency, there is a comment related to its price. Not at least in the near future. Even so, bitcoin may be possible to fall and reach $ 1,000 but not till zero. It reached new sleep a few weeks ago however, this does not mean that bitcoin will not grow in the future.
Bitcoin is called an old technique which can no longer be used. There are several new projects working on various block chains that are known as 3.0, another thing has spread among the community about bitcoin that bitcoin has now been removed by new block chains.
This FUD is spreading over the Internet and mainstream media, community has previously been experienced. This bitcoine is not dependent on the number of sidetracks, the number of smart contracts or the value measured in transactions per second (TPS).
This bitcoin remains the largest digital asset in the market and its market capitalization is $ 67 billion. But none of them was right about this. During its previous bear markets, many experts and analysts have called for the end of bitcoin.
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