There have been raised many dubious debates in cryptocurrency vulnerability and the probability of taking it out from trade market because of unpredicted fluctuations during these few days which is metaphorically called its “death”. The fluctuation, or let us say, decrease, in crypto value is more evident in African countries like Ghana, Saint Helena Island & South Atlantic Ocean Countries.
However, what is the main stimuli of the journalists’ inclination to use such idiom? One of them is losing its value compared to the first month of the current year. It might be severe among the newcomers in this field; however, it is not a new phenomenon taken place for the first time, and it had faced such coincidences even when its value was much lower.
For instance, in the times of asking users to pay tax for crypto and in the condition of hacking information or in which the issuer companies were closed, it faced a type of drop; although, again it enjoyed a revival period.
There might be some difference in the present crypto weakness, though, it is not having a good idea about blockchain itself, not the crypto. Those who are against blockchain or at least look at it skeptically haven’t seen any significant success or evolution during these years, so enough is enough in their idea.
The other influencing their viewpoint is the failure of blockchain startups, while it can often be seen in any other business too. The third might be those skeptics’ fear. Most of them are the people accustomed to the traditional trading system and make benefit from it. This modern method might be a threat for them to lose their financial position.
Furthermore, the journals and newspapers inserting such headlines are generally supervised and commissioned by the government or the organizations who are still in favor of traditional business and look at it as an impediment to live a life as before.
Moreover, you should take this important fact into account that the news is just a tool to attract the readers, so either raising or lowering crypto value has always been a useful instrument to trigger the readers and make them emotional about the events. The strategy they have had is calling any increase as “bubble” and informing about the end of that bubble in case its value decrease.
The other is that most journalists predicting about crypto future are not knowledgeable enough regarding its nature and mechanisms, so their headlines are rooted in their limited information.
On the other hand, the statistics have proved that despite all volatilities, there is still a higher percentage of buying it rather than selling or spending.
To sum up, it looks as if it was more a game for some to win in order to take advantage from the condition. Therefore, since it is not a new incidence, it might recur, and it is surely not as a threat as they claim.