Expert declares ‘RIP Bitcoin obituary’ – death notices dwindle as top cryptocurrency gains acceptance from politicians, billionaires
Jameson Lopp’s A recent post on Bitcoin’s Bitcoin/USD The death announcement sparked interest in the resilience of cryptocurrencies.
What happened: The software engineer, columnist and Bitcoin advocate’s post on Christmas Eve hinted at the declining frequency of death pronouncements. Bitcoin, the world’s largest cryptocurrency, has faced numerous criticisms since its birth 15 years ago, leading to its “death” being declared 477 times. 99 Bitcoin Obituary Tracker.
The last wave of such negativity came in April. However, the number of Bitcoin death reports has been declining, reaching a ten-year low of 8 in 2023.
Data from Bitbo shows that Bitcoin Obituary’s decline was even greater. A chart from the Instant Bitcoin Dashboard shows how the number of these statements has decreased since 2022.
Source: bitbo.io
In a separate post on the same post, Loop noted the resilience of the top cryptocurrency, saying that even Bitcoin’s critics are now “dealing with it,” saying “the scam could go on forever, and now Bitcoin Coin has many billionaires and politicians who believe it is here to stay. “
See Also: Scaramucci Defends MicroStrategy’s Bitcoin Strategy, Predicts Long-Term Growth of Cryptocurrency
Why it’s important: The decline in Bitcoin death declarations signals a shift in mainstream media’s view of the cryptocurrency. According to previous reports, the year with the highest number of Bitcoin obituaries was 2017. Even that year, the top coin surged a record 1,900%.
In fact, Bitcoin has been soaring in 2024, rising 132.2% since January. In the past 3 months alone, the cryptocurrency has soared by more than 56%. The most recent all-time high was set a week ago on December 17, when it hit $108,268.45.
Benzinga recently noted that if investors had put $1,000 into Bitcoin when the obituary was last published in April, they would have gained 48%. These obituaries often appear when cryptocurrencies face a bear market or increased regulatory scrutiny.
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This story was generated using Benzinga Neuro and published by Sivdeep Dhaliwal
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