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Crypto currency expert Jameson Lopp stated on December 20 that Bitcoin (BTC) has been declared “dead” 474 times since 2010. The data shows that so far in 2023, only seven ‘deaths’ have been recorded. The most recent one occurred during billionaire tech investor and Bitcoin bull Chamath Palihapitiya’s statement on the All-In show on April 22, declaring “crypto is dead in America.”
Striking Statements on BTC
However, Chamath Palihapitiya seems to be speaking in the context of overly comprehensive regulations. The firm clearly states that it will only add Bitcoin death notices if the media content claims that BTC is or will be worthless and is produced by “a person with a significant following or a site with a significant amount of traffic.”
Moreover, the firm found that more than half of this year’s death notices came in January, just two months after the collapse of FTX, when BTC was struggling to rise above $17,000. Additionally, even though it was the year Bitcoin reached its all-time high, 2017 had the most Bitcoin death notices with 124. BTC prices gained 1,900% in value that year, and the asset reached its all-time high of $20,000 in December.
“Buying Opportunity in Bitcoin”
The third highest number of alleged Bitcoin deaths occurred in another cyclical peak year, 2021, when the token reached its all-time high of $69,000 in November with a 138% increase. Professional analyst Oliver L. Velez, observing the bell-shaped curve and the downward trend, stated in his remarks:
Within two to three more cycles (each cycle lasting 4 years), there will be no death notices for Bitcoin. Saying that BTC will die then will be as illogical as saying that “the air” will fail. We are trending there.
Bitcoin is not the only cryptocurrency that has been occasionally declared dead. Ethereum is currently not very popular, and some critics are calling for ETH deaths on crypto social media. However, Ethereum advocate Anthony Sassano responded to the “death of the ETH party” on December 21 by purchasing more tokens.
