Born in 2009, bitcoin has faced an untimely demise 473 times over the past 14 years, and yet, like a phoenix rising from the ashes, it continues to soar ever higher.
They say cats have nine lives, but bitcoin (BTC) has at least 473 (and counting). Let’s take a trip down memory lane and visit some of the most notable “deaths” of our dear friend, bitcoin.
The FUD chronicles: tale of death and rebirth
2017 and 2018 were particularly trying times for our beloved digital currency. Declared dead a whopping 124 and 93 times, respectively, bitcoin seemingly teetered on the brink of extinction.
And yet, despite the barrage of doom and gloom, it soldiered on, showing the resilience and fortitude of a honey badger. Oh, how it laughed in the face of adversity!
And let’s not forget the time CNBC called bitcoin a “hyped-up fraud.” The scathing critique was akin to throwing a snowball at a charging rhinoceros.
Bitcoin merely shrugged it off, and today, it sits triumphantly atop its digital throne, scoffing at its detractors from a much higher valuation.
The European Central Bank (ECB) also threw its hat into the ring of bitcoin naysayers, claiming the cryptocurrency was “on the road to irrelevance.”
And yet, the road to irrelevance seems to have taken a detour, as bitcoin has only grown more popular and widely accepted since then. Perhaps the ECB should have consulted a GPS.
The Reserve Bank of India went further, suggesting that “crypto may be worse than a Ponzi scheme.”
It’s entertaining to think that this alleged financial supervillain continues to attract investment and innovation, defying every attempt to bury it alive. In this twisted tale, Bitcoin has emerged as the antihero we never knew we needed.
As we journey through the years, we can’t help but notice a pattern: bitcoin’s “death count” tends to rise during bear markets and drop during bull markets.
In 2019, it died a mere 41 times, and in the relatively calm waters of 2020, only 14 obituaries were written. However, the bears roared back in 2021, and bitcoin was pronounced dead 47 times. As the bulls run wild this year, the death toll stands at a paltry 6 (so far). Ouch!
473 lives and beyond
Bitcoin’s repeated flirtations with death have seemingly only made it more robust, much like a digital Rasputin. While naysayers continue to predict its downfall, Bitcoin persistently defies its expectations, showcasing its unyielding resilience.
As time passes, we can undoubtedly expect more bitcoin obituaries and fear-mongering from the media.
However, if history has taught us anything, bitcoin is a tenacious creature. It laughs in the face of doom, constantly evolving, adapting, and growing. Boasting 473 lives and counting, who knows how many more it has up its sleeve?
To the skeptics and naysayers, we say: keep those obituaries coming. Bitcoin will be here, quietly biding its time, ready to prove you wrong again.
So, let’s raise a toast to our indomitable friend and remember that death is merely a hiccup in cryptocurrency. The only certainty is that bitcoin’s obituary writers will never be out of a job.