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Bitcoin tumbles below $70k, wiping out gains since Trump 2024 win

submitted by JumpCr+(OP) on 2026-02-05 15:11:42 | 69 points 64 comments
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1. cs702+I1[view] [source] 2026-02-05 15:19:00
>>JumpCr+(OP)
Bitcoin has been declared dead many times:

https://bitcoindeaths.com/

It just keeps on existing.

12. rpigab+Ie[view] [source] 2026-02-05 16:29:33
>>JumpCr+(OP)
https://www.saylortracker.com
26. krunck+qc1[view] [source] 2026-02-05 20:51:47
>>JumpCr+(OP)
Wall Street is not doing well at the moment[1] and is probably calling on it's hedges[2] - including Bitcoin - to cover losses.

[1] >>46904619

[2] https://en.wikipedia.org/wiki/Hedge_(finance)

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36. zamada+hF1[view] [source] [discussion] 2026-02-05 23:25:09
>>krunck+qc1
The markets have hardly moved yet and there are far bigger dips and faster dips within the last year which did not have such an effect https://i.imgur.com/nYSdiUN.png. I also agree with the sibling it doesn't really make sense to call Bitcoin a hedge if it's supposed to drop with the market.
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59. cs702+hy3[view] [source] [discussion] 2026-02-06 15:40:30
>>JumpCr+f11
> Looking at the actual quotes on that website, I'm struggling to find the word death (or a synonym).

Start at the bottom of https://bitcoindeaths.com/posts and scroll up. You will find many prominent declarations of imminent death or failure, including "So, That's The End of Bitcoin Then" (2011), "Bitcoin Sees the Grim Reaper" (2013), and "An Early Obituary for Bitcoin" (2014).

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63. sph+eH5[view] [source] [discussion] 2026-02-07 08:56:21
>>acdha+r34
https://en.wikipedia.org/wiki/First-mover_advantage

Sure, you can create a new blockchain, but you probably won't overtake the first and most popular, however good your tech is. Also, your comment suggests, as it is often the case, that new blockchains are created not because they are better than all other cryptocurrencies, but rather as a pump-and-dump scheme, and that's the primary reason the whole field has such a terrible reputation.

In any case, first-mover advantage is another reason why it's highly likely Bitcoin will remain the cryptocurrency with the largest market cap.

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