Why Cryptocurrency is not dead - here are the reasons

There is lots of debate circulating the internet about whether cryptocurrency is dead. Many first time investors who associate themselves with the cryptocurrency realm are left reeling from Bitcoin's highs from 2017, seeing a total market cap fall from $1 trillion to $250 billion.

Our grandparents have stopped asking us about this "Bitcoin" thing. But is cryptocurrency really dead? 

Here are five reasons why it's not:

Cryptocurrency prices rose exponentially and declined slowly. With most people claiming that 'we are in a bubble', it couldn't be further from the truth. Typically bubbles form and burst in the opposite direction - steady increases over a long period of time and a sudden crash. Infamous crashes such as the 1987 Black Monday, Dot Com crash and 2008 Global Financial Crisis. The most recent cryptocurrency trend has been a staggered decline, about three times longer than its rise. A slow decline is more indicative of healthy correction rather than an absolute crash. Nonetheless, the Bitcoin price went up $18,000 (USD) in one year... which other asset/investment does that? The answer is none. Ultimately, of course it was a matter of time before a correction occurred, with such a monster increase in price, there's always going to be a strong pullback. The important thing to remember is, if you take a step back, and zoom out, we're still up more than $5,000 USD from this time last year... It's only a matter of time before the increase will rise again. 

The blockchain and smart contract technology remains intact. There was no Bitcoin security breach, no superseding technology, nor any threat that renders Bitcoin and other cryptocurrencies useless. The technology is just the beginning, we've already seen on numerous accounts of governments and entities worldwide seeing the potential of blockchain. The ASX (Australian Stock Exchange) is the first stock exchange to be powered by blockchain this year... Dubai is going to become the first government world-wide to be powered by the blockchain. This technology has a glittering future and is here to stay.

We've been here before. For those who have been involved in crypto for longer than a year have experienced one major fall in the price of Bitcoin. Remember when China banned Bitcoin... This is not our first rodeo and it is certainly not our most significant crash either, and probably won't be our last.

A more convincing argument to why crypto is alive and well, is that we still don't know who Satoshi Nakamoto is. Until we hear it from his/her's mouth, there is no reason to assume that cryptocurrency is going away any time soon. Whoever Satoshi is, they created an amazing gift and has left it for humanity.