Is Bitcoin really dead? Finance experts are failing to see the light at the end of the tunnel for the world’s biggest crypto.
Bitcoin in 2022
Bitcoin (BTC) has been struggling over the last few months. With rising inflation on top of initiatives to regulate the crypto giant, the price of BTC may never recover in the way investors want. During the worst days of the crypto crash, the price of BTC dropped below $18,000. Recently, however, it has gone over the $20,000 mark. As of this writing, the 24-hour low price of BTC was $19,883.90 and the high was $21,175.70. However, these figures are still very far from BTC’s all-time high price of $64,000. Moreover, at the start of 2022, the coin was priced at $35,000, which means its year-to-date price is down 55.55%.
Talks about the death of BTC started on social media. On Twitter, Euro Pacific Bank owner Peter Schiff said that long-term BTC holders have been through worse price declines, but pointed out that previous declines did not involve massive leverage and major losses in total market capitalization. Interestingly, these social media discussions sparked Google searches for the phrases ‘Bitcoin dead’ and ‘Bitcoin is dead,’ which indicate that many investors are fearing the worst for the crypto king.
GNOX is an up-and-coming token that carries an inherent value like BTC. However, the Gnox platform is not just about the value of its token. It is a DeFi earning solution with a built-in protection mechanism against volatility. It implements a buy-and-sell tax that directly benefits token holders and is geared towards supporting the consistent growth of the protocol. It also has a treasury that enables long-term investments. This means that short-term investors are discouraged, which helps reduce volatility. As such, GNOX is a strong contender in the eyes of investors who are seeking long-term investment options.
Pancakeswap is a popular decentralized exchange platform where BEP-20 tokens can be swapped on the Binance Smart Chain (BSC). With its goal of providing liquidity and yields to token holders, Pancakeswap is said to be one of the best decentralized cryptocurrencies to invest in for 2022. Notably, Binance Labs recently made a strategic investment in this platform, which helped drive up the price of its token, CAKE, by 10%. Pancakeswap also recently announced its integration with Chainlink Keepers to support its product, CAKE Prediction Market.
Many investors fear that Bitcoin may never recover, but that does not mean it will completely disappear. Nonetheless, the heavy decline of BTC today could be a signal that it’s time to look to cryptos that have a strong potential for long-term growth.
For more about Gnox:
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