Is Bitcoin Dead?

Hello guys. I received a mail from Ofir one of the writers who am always eager to read from. He explains the previous rise and fall of bitcoin and I feel like sharing it here because its interesting and we may also pick one or two things from it. Please do not take this write-up as a financial advice. Always do your own research and follow your mind. Read it below pls.

Hey olutope3, it's Ofir from 99Bitcoins.

So Bitcoin is down almost 70% from it's high $20K high on Dec 18th. At the time of writing it's trading at around$6K. Does this mean that Bitcoin is dead?

As always I can't give you any financial advice but I can give you my perspective and tell you what I'm personally doing.
It's important to remember that since Bitcoin's creating it has already been declared dead over 250 times by the media, by so-called financial experts and by banking and investment gurus. For some reason it keeps coming back to life :)

For those of you who are new to this crazy rollercoaster ride here are some proportions:
Between June and November of 2011 Bitcoin crashed from $32 to$2 (that's a 94% drop)
On June 2012 Bitcoin crashed from $7 to$4 (that's a 36% drop)
On April 2013 Bitcoin crashed from $266 to$54 (that's an 80% drop)
On September 2017 it crashed from $5000 to$2972 (that's a 40% drop)
But the important thing is that each time Bitcoin crashes like this it ends its crash at a higher price level than before the bubble began.

At times of low prices and FUD (fear, uncertainty, and doubt) the fluff tends to fade away and you don't hear people pumping all types of altcoins as if they were the next best thing. That's good, it means that only the coins with actual substance are here to stay. This is the point where you start asking yourself are you into Bitcoin for the tech or are you in it in order to make a quick buck. If it's the latter, then you won't survive long.

My faith in Bitcoin hasn't moved an inch throughout this past month because I understand the value of the technology behind it. The ability to create an "exit" door from the traditional banking system. On a personal note, I haven't sold any of my Bitcoin yet and don't plan on doing so.

So should you sell or buy? I can't answer that, that's a call you'll have to make. I can only tell you my point of view so you can see if it makes any sense to you.

If you find the above message interesting, kindly upvote this post and if you will like to read directly from Ofir next time please search for 99bitcoins and subscribe for the newsletter.

Thanks