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The Media Has Declared Bitcoin Dead 455 Times

The Media Has Declared Bitcoin Dead 455 Times

A note from Ian: Something big is happening in cryptos right now, and I don’t want you to miss out. The fact is, all of my research indicates that this correction is setting the crypto market up for a massive bull run. And I’ve uncovered seven cryptos with the potential to hand you seven-figure profits. During this special event on Tuesday, June 28, at 1 p.m. Eastern time, I’ll tell you all about them. All you have to do is click here to claim your spot.

 

One of the worst things about a down market is the news headlines.

They’re written to prey on your fears.

They’re particularly bad for crypto.

Since it’s a new technology, outlets are quick to declare it useless or dead at the first sign of a drop.

There’s actually a website that tracks bitcoin obituaries.

It tallies sensationalized headlines and articles on bitcoin.

For example, “BTC Is Worth Exactly Zero” and “Crypto Is Dead” are two articles it has archived.

And according to its records, bitcoin has “died” 455 times.

Don’t believe these articles.

Crypto isn’t dead.

In fact, it’s bigger and better than ever before.

The World of Crypto Is Way Bigger Than You Realize

So why has bitcoin’s death been greatly exaggerated?

Well, it all comes down to the fact that the media doesn’t truly understand crypto.

Let’s take a look at how they frame these articles.

The majority of them make it seem as though the entire world of crypto is just a few tokens, like bitcoin and Dogecoin.

Once an article sets up this premise, it’s easy to push the idea that if these few tokens go to zero, all of crypto collapses.

But this is a ridiculous idea.

The world of crypto is much bigger than bitcoin and Dogecoin. And it’s much more mainstream than most people realize.

Here are three examples:

  1. Cross-border payments.

When it comes to money transfers across borders, banks and transfer services charge an average fee of 6.38%.

Rather than pay these exorbitant fees, many people decided to embrace crypto.

With crypto, you don’t have to deal with a bank or transfer service.

Just send your crypto directly to the recipient in another country for as little as 0.1%.

There’s such a huge market for this service that Big Tech names are creating their own blockchain networks.

IBM even recently introduced the IBM Blockchain World Wire network for cross-border payments.

  1. Central bank digital currencies.

The concept behind cryptos is that there’s a digital ledger that keeps track of every transaction. And that ledger can’t be manipulated.

On top of that, they’re digital currencies that are much easier to use and transfer than cash or checks.

It’s not just the average person that finds this helpful.

Many central banks around the world love the idea of a centralized crypto.

There are currently 10 central banks that have launched a central bank digital currency.

And there are 67 central banks that are in the research and development phase, including the U.S. Federal Reserve.

  1. Supply chain logistics.

Accidents, disruptions and scams in the global supply chain cost $56 billion last year.

It’s nearly impossible to track goods and their condition while in transit.

A business doesn’t know if the items it ordered are in good condition until they arrive. That is, if they arrive in the first place.

In response, Microsoft is developing a blockchain network that can track goods from factory to store.

Information on the goods is added from multiple points on the supply chain. And the information is verified by the various participants on the network.

That means businesses can keep track of everything from an item’s quality to its precise location at any given time. And they can be sure it’s reliable information.

The Current Market Conditions Are An Opportunity

To declare the death of cryptos is to ignore all these use cases.

It also discredits the innovative crypto technologies that are being used to solve various problems.

For example, NFTs are currently being explored as a way to copyright creative works.

And blockchain tech is being developed as a solution for safely storing and transferring medical records.

Sure, down markets are tough.

But they’re also an opportunity to find cryptos that solve today’s biggest problems.

And it gives you a chance to invest in them at cheap valuations.

You can find out about some of these crypto ideas by checking out Ian King’s new presentation on Tuesday, June 28.

You can sign up for it by clicking here.

Regards,

text

Andrew Prince

Research Analyst, Strategic Fortunes

Morning Movers


 

From open till noon Eastern time.

Zai Lab Ltd. (Nasdaq: ZLAB), a global biotech company primarily focused on cancer treatments, gained 16%, extending its rally from last week.

PTC Therapeutics Inc. (Nasdaq: PTCT), a biotech company focused on gene therapies, gained 9%. This extends its rally from Tuesday after the company reported data for its Duchenne muscular dystrophy therapy.

NovoCure Ltd. (Nasdaq: NVCR), a commercial-stage biotech company that invented tumor-treating-fields technology, climbed 8%. The company enrolled its first patient in a Phase II trial, evaluating its technology as combination therapy for a form of non-small cell lung cancer.

Novavax Inc. (Nasdaq: NVAX), a commercial biotech company producing vaccines for infectious diseases, rose 8%. This comes after the company presented COVID vaccine data at a health care conference earlier this week.

BRF S.A. (NYSE: BRFS), a Brazilian food processing company. climbed 6%. The stock bounced off of five-year lows despite no news.

New Relic Inc. (NYSE: NEWR), an enterprise software company, climbed 6% after activist investor Jana Partners upped its stake in the company. Jana Partners now owns 5.3% of the company.

Five9 Inc. (Nasdaq: FIVN), an enterprise software company that caters to contact centers, gained 6%. Although there’s no company-specific news, the increase comes after Tuesday’s unusual call-buying activity.

Multiplan Corp. (NYSE: MPLN), a provider of services for insurance companies, rose 6% despite no news. The move extends the stock’s rally that began in mid-May.

Gitlab Inc. (Nasdaq: GTLB), a tech company providing a platform for software developers, rose 5%. The company is meeting with financial company Truist at a roadshow on Wednesday.

Natura & Co. Holding S.A. (NYSE: NTCO), a global producer of cosmetics, fragrances and toiletries, gained 4%. The move comes after the stock made a new 52-week low on Tuesday.

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