In 2023, mainstream media declared Bitcoin “dead” only seven times, marking the lowest frequency of such declarations in a decade. This information comes from the BTC obituaries tracker by 99bitcoins, as shared by industry expert Jameson Lopp on Crypto X (Twitter) on December 20. The tracker has recorded 474 instances of Bitcoin being declared “dead” since 2010.
Interestingly, the majority of the seven “deaths” in 2023 occurred in January, during the challenging period of the crypto winter and just two months following the dramatic collapse of FTX, when Bitcoin was struggling to maintain a price above $17,000. The most recent declaration came from billionaire tech investor Chamath Palihapitiya during an April 22 episode of the All-In podcast, where he stated, “Crypto is dead in America,” though his comment seemed to be more about regulatory challenges than the actual demise of Bitcoin.
The criteria for adding a Bitcoin obituary to the tracker are stringent. The media content must explicitly claim that Bitcoin is or will become worthless, and it must come from a person with a notable following or a site with substantial traffic.
The year 2017 holds the record for the most Bitcoin obituaries, with 124 instances, despite Bitcoin reaching an all-time high of $20,000 in December and experiencing a 1,900% price increase that year. The third highest number of Bitcoin “deaths” was recorded in 2021, another peak year when Bitcoin surged to an all-time high of $69,000 in November, gaining 138%.
Professional trader Oliver L. Velez noted the bell-shaped curve and the declining trend in Bitcoin obituaries, suggesting that in two to three more cycles (each lasting four years), the idea of Bitcoin dying will seem as absurd as suggesting that “air” might fail.
Ethereum, another major cryptocurrency, has also faced its share of pessimistic predictions. Despite some critics declaring the “death” of Ethereum, advocates like Anthony Sassano remain bullish. Sassano announced on December 21 that he is responding to the “death of ETH party” by purchasing more of the asset, indicating continued confidence in Ethereum’s future.
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