Experts uncover why the cryptocurrency is definitely ''not dead''

BITCOIN price has tumbled in contemporary days, but the cryptocurrency is not expected to ultimately die anytime soon, according to trading expert Spencer Bogart.

 Bitcoin cost fell by more than 50 percent from its $20,000 highest, but Spencer Bogart of Blockchain Capital said,  the cryptocurrency will remain alive after the fall.

Talking to CNBC, the crypto expert said bitcoin’s fallback is “relatively mild” overall. 

He said: “These prices rise and they fall as well, and there are two ways to frame this.

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We could frame it as ‘this is 50 percent free of its highs’ and to many of people that is a fearsome story.

Or we could frame it entirely differently and talk about how bitcoin is up 100x or 1000 percent from a year ago. It’s a volatile currency, and it’s going to up, and it’s going to go down.

So “Bitcoin is not dead. We’ve seen this story many times before.”

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He further added: “I think there’s even a website called Bitcoin Obituary(obit) that tracks the number of times that people have declared bitcoin is dead.

Overall this fallback that we’ve seen so far is relatively faint. In 2014 we saw bitcoin fall 80 percent from its highest only to recover to fresh new highs over the past year.

So I think that overall what happened here is we had a lot of supposition and buildup with the launch of futures products and uninspired spiralex in the US. This type of spell the standard of bitcoin so a new flow of capital that could be moving in that could push prices higher.

Here I think a lot of people proceeded into bitcoin directing up to the launch of those futures and then when it happened a lot of people sold the news and in the meantime organizations have not run into this market yet.

This is the latest market; these are most recent products for a brand new assets class. So most of these large, competent organizers are going to take their time for the assessment of the products.

On January 17, according to Coindesk at 10:26 am, bitcoin cost is $10,105.58 while its competitors ethereum and Ripple are priced respectively $910.61 and $1.16.

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