There were 41 Bitcoin obituaries that year

Since the price of Bitcoin and several cryptocurrencies has plummeted in the last 2 weeks, all hopes for the six-digit level seem to be slowly fading. However, Bitcoin is up more than 150% since the start of the year. Despite this development, skeptics and critics continue to argue that Bitcoin is nearing its end. In fact, the infamous list of obituaries on Bitcoin suggests that 2021 will be similar to 2019 due to the third largest number of obituaries in a year.

Bitcoin obituaries

On November 10, BTC hit an all-time high of $ 69,000 and has since fallen below $ 50,000. It seems that higher prices offer skeptics an opportunity to declare Bitcoin dead after the flagship cryptocurrency fell quite a bit during a market downturn. In 2017, when BTC approached $ 20,000, perform The obituary hosted on 99bitcoins.com contains 124 allegations that Bitcoin will die this year.

The year with the second largest number of BTC obituaries was 2018, as 93 statements were made that Bitcoin was about to crash. It continues with 2021, similar to 2019 with the third highest number of dead Bitcoin claims in a year. After the bear market after ATH’s price hit in 2017, there were a total of 41 Bitcoin obituaries in 2019. As of November 29, 2021, a similar number of death sentences has also accumulated.

Bitcoin Obituary Statistics | Source: 99bitcoins.com.

The latest obituary for BTC is on November 29th, written by Bill Blain Upload via the website capx.co. That obituary is called “Bitcoin Is Nothing But A Ponzi Scheme” and Blain claims that the cryptocurrency is also accelerating inflation.

“Cryptocurrency is not real and it is not money. It’s too volatile to be useful as a store of value. It is scarce and not a unit of account. I can explain why crypto can’t seem like money because it has the potential to accelerate inflation, like start a fire. ”

Additionally, Blain said he occasionally reads about the blockchain technology that underlies digital assets.

“Time and again I rummage through a lot of garbage posing as the blockchain genius, mathematics and arithmetic logic that drives crypto. Only 10% attractive and 90% total rubbish.

Crypto thrives on social media, the internet, and connectivity, which makes it easy to spread scams in global markets at incredible speeds. They succeeded because the regulators did not stop them – congratulations to the Chinese for being ahead of the rules in this regard. One day the last fool wants his money back and the regulatory authority is in danger if something is not done soon. ”

Despite the views of Blain and 40 other Bitcoin obituaries, the crypto king is alive and well. There is no asset in the world that can be called “dead” or “dead” after increasing in value by more than 150% in 12 months. Blain is also generally critical of cryptocurrencies, but many of them are appreciating significantly more in percentage than BTC’s earnings since the beginning of the year.

The number of Bitcoin obituaries for 2021 recorded on 99bitcoins.com is also much larger than the first 4 years combined. This shows that the more mature BTC and the crypto-economy, the more they seem to be getting from critics and skeptics. While there were numerous death predictions in 2021, that won’t stop others from criticizing further in 2022.

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