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The narrative surrounding Bitcoin’s vitality seems to have undergone a noteworthy shift, especially within the mainstream media’s perspective. In 2023, mainstream media has only pronounced Bitcoin “dead” on seven occasions, marking its lowest frequency in a decade, as reported by a Bitcoin obituaries tracker from 99bitcoins, shared by industry expert Jameson Lopp on Crypto X’s Twitter on Dec. 20. The tracker reveals a total of 474 instances of Bitcoin being declared “dead” since 2010.
Remarkably, only seven instances of ‘deaths’ have been recorded in 2023 thus far. The latest declaration came from Bitcoin bull and billionaire tech investor Chamath Palihapitiya, stating “Crypto is dead in America” during an April 22 episode of the All-In podcast. However, Palihapitiya’s statement appears to be contextualized within concerns of regulatory overreach.
The criteria for including Bitcoin obituaries involve explicit claims of BTC being or becoming worthless in media content, provided the content is generated by a “person with a notable following or a site with substantial traffic,” according to the tracking firm. Notably, over half of this year’s obituaries emerged in January, around the depths of the crypto winter, just two months after the FTX collapse when BTC struggled to surpass $17,000.
Curiously, despite 2017 being the year when Bitcoin reached its all-time high, it also recorded the highest number of Bitcoin obituaries at 124. Bitcoin’s prices surged by 1,900% that year, reaching an all-time high of $20,000 in December.
The third-highest count of so-called Bitcoin deaths occurred in 2021, another peak year in the market cycle. During this year, Bitcoin gained 138%, reaching an all-time high of $69,000 in November. Professional trader ‘Oliver L. Velez’ notes the bell-shaped curve and declining trend, expressing on X: “In two to three more cycles (each cycle is 4 years), there will be no Bitcoin obituaries. At that time, saying BTC is going to die will be as silly as saying ‘air’ is going to fail.
The post Not dead, Bitcoin obituaries drop to lowest level in ten years appeared first on My Blog.
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