In retrospect, the latest crypto crash was triggered by President Donald Trump’s decision to hike tariffs on China after negotiations stalled.
A tsunami of liquidations on October 10 was the spark that caused a massive risk-off move that evaporated more than $16 billion worth of long positions in just a few hours, followed by a subsequent wave of selling that has resulted in severe losses for the entire sector.
As a result, the famous phrase “Bitcoin is dead” has been uttered multiple times in the past few months. In February alone, Bitcoin Deaths, a website that tracks how many times Bitcoin is declared deceased, has counted 9 different headlines with this bold statement.
Truth is, this is not the first time that cryptocurrencies have crashed to this extent.
That said, at a point when institutional adoption is at its peak, Bitcoin’s reputation is as solid as it gets, and DeFi is no longer a concept reserved for underground Reddit forums – has blockchain technology failed to deliver on its promises?
