The number of times Bitcoin BTC/USD has been declared “dead” by mainstream media in 2023 has dipped to a decade low, a recent report reveals.
What Happened: Cointelegraph reported that mainstream media announced the “death” of Bitcoin only seven times this year, the lowest count in the last decade. This information was provided by Jameson Lopp, using data from 99bitcoins’ BTC obituaries tracker.
Since its inception in 2010, Bitcoin has been declared “dead” a total of 474 times. However, this year has seen only seven such proclamations, with the most recent one coming from Bitcoin enthusiast and billionaire investor Chamath Palihapitiya.
Palihapitiya declared “Crypto is dead in America” during an April episode of the All-In podcast.
More than half of this year’s so-called obituaries were announced in January, during the crypto winter, following the collapse of FTX. This was a time when Bitcoin was grappling to climb above the $17,000 mark.
Why it Matters: The highest number of Bitcoin “deaths” were reported in 2017, a year when the cryptocurrency witnessed a record-breaking surge of 1,900% to touch an all-time high of $20,000 in December. In 2021, another high-performing year for the asset which saw a surge of 138% to hit a high of $69,000 in November, the third highest number of Bitcoin ‘deaths’ were reported.
Bitcoin is not the only cryptocurrency that has been declared “dead” from time to time. Ethereum ETH/USD has also faced its share of such predictions, with critics forecasting its demise on crypto social media.
Photo Courtesy: Outsideclick from Pixabay.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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