Friday, January 21

Bitcoin “died” 42 times in 2021

In 2021, bitcoin was declared dead 42 times. But contrary to what the headlines claim, it is becoming increasingly unlikely to happen. This year saw an increase in interest in cryptocurrencies in the mainstream media, as news about the end of the digital currency was three times more than for the whole of last year.

The end of Bitcoin is an attractive topic for popular news portals, many of which don’t even talk about cryptocurrencies on a daily basis. According to the 99bitcoins website, this year alone, this situation has already occurred 42 times. That’s 200% more than last year.

The number of times Bitcoin was declared dead in 2021 is particularly interesting as it is three times more than the number of times Bitcoin was declared dead in 2020, which totaled 14 times.

Bitcoin died 2021

Deaths in 2021

Bitcoin’s most recent death was recorded on December 14, 2021, with the price of the cryptocurrency at around $46,600. The statement was made by Bank of England Vice President Sir Jon Cunliffe.

“Its price can vary considerably and bitcoin can drop to zero.” he said.

Another Bank of England official echoed his pessimism, saying Bitcoin could become “worthless” and that anyone investing in cryptocurrency should be prepared to lose everything.

Cornell University professor of international politics, Eswar Prasad, speculated that the existence of Bitcoin may not be sustainable for very long.

The lack of efficiency and the inability to allow exchange as a form of payment, according to Prasad, could make cryptocurrency disappear soon.

Bitcoin died, but it’s ok

The total number of times bitcoin has been declared dead, according to the website, is… 435. Before any such information is included in the count, it is carefully checked. A Bitcoin “death” must meet several requirements, the most important of which are:

  • Determine unequivocally (both in the title and in the body of the message) that Bitcoin has no value or it will soon be lost;
  • Bitcoin death needs to be posted by a popular person or be on a well-known website.

One thing is certain: Over the next few years, the media will repeatedly announce the demise of cryptocurrency, and in the meantime savvy investors will seize the opportunity, as recently proven again by the third-largest bitcoin address that continues to hoard the digital currency in times of decline.

Despite the number of Bitcoin deaths in 2021, Bitcoin’s return on investment (ROI) against the dollar is 59.75% year-to-date (YTD).