BTC is Once More Considered Dead, What Implications Does It Have?
Bitcoin is no more. That statement has been declared by mainstream media over 500 occurrences since 2010. In 2024, however, this foreboding comment was mentioned the least it has ever been. BTC was noted as dead or dying just a handful of times. That speaks volumes, especially considering Bitcoin plummeted to $40,000 to kick off the year.
Today, let’s investigate the possibilities of whether anything can bring down Bitcoin and the validity of these “Bitcoin is dead” assertions.
Can Regulators Eliminate Bitcoin?
The Federal Reserve, under chairman Jerome Powell, isn’t fond of Bitcoin or most other cryptocurrencies. Powell and the Fed appear solely to appreciate the worth of stablecoins.
In conjunction with Powell, a number of significant politicians have shown more price floor for stablecoins than for Bitcoin.
“If you had a digital U.S. currency, you wouldn’t require stablecoins; you wouldn’t need cryptocurrencies,” It’s happening! Texas will be the crypto leader,” Governor Greg Abbott tweeted
Additionally, former Treasury Secretary Janet Yellen has raised multiple concerns regarding digital currency and urged the Fed to regulate stablecoins without delay.
“I believe many are utilized, at least in a transactional sense, primarily for illicit activities, and I think we really require to explore ways to restrict their use and ensure that money laundering does not happen through these channels,” Yellen remarked.
This sounds very threatening for BTC… except it’s actually not.
Why a BTC Ban is Ineffective
One nation’s oversight in seizing the opportunity with BTC and ETH can benefit another—or another state.
“It’s happening! Texas will be the crypto leader,” tweeted Governor Greg Abbott after China prohibited Bitcoin block rewards.
Moreover, Trump’s presidency has brought about a change in the U.S. crypto landscape, with states like Wyoming, Texas, Florida, and South Carolina implementing regulatory frameworks that encourage innovation. These early adopters are positioning themselves to enjoy the benefits of a more crypto-accepting approach.
Keep in mind that BTC is not merely capped at 21 million; it’s a deflationary asset. An asset like this is something the U.S. desperately requires right now after creating 20% of all U.S. dollars ever produced.
That accounts for one-fifth of ALL U.S. dollars ever generated in 2020 alone for stimulus packages and financial rescues.
So, is Bitcoin Really Gone?
The principal error individuals make in digital currency involves investing without comprehending it. This is the same reason many assert that BTC is dead.
Once a bit of turmoil arises, inexperienced investors tend to liquidate their holdings, and corporate media declare BTC is dead for additional attention. Bitcoin thrives on its death proclamations. The more the platform triumphs over them, the more resilient Bitcoin becomes overall.
FIND OUT: Best Meme Coin ICOs to Invest in March 2025
Join The 99Bitcoins News Discord Here For The Latest Market Insights
Key Takeaways
- BTC is no longer alive, BTC has crashed. That statement has been made by mainstream media over 500 times since 2010.
- The Federal Reserve, headed by Jerome Powell, is not fond of Bitcoin and most other cryptocurrencies.
- The primary mistake individuals make in crypto asset is investing prior to understanding it. This is the same reason many declare BTC is dead.
The post Bitcoin is Dead Again, What Does it Mean? appeared first on 99Bitcoins.
