In the face of adversity: Bitcoin experiences a notable decline in obituaries over the past decade
As we approach the final third of the year, an intriguing trend emerges within the realm of cryptocurrencies. The Bitcoin Obituaries list, which has meticulously documented the cryptocurrency’s supposed “deaths” over the past decade, reveals a surprising downturn in memorials for the year 2023. In a striking departure from the past, only seven so-called bitcoin death announcements have been recorded thus far.
This striking trend is in stark contrast to previous years, where bitcoin’s obituaries were far more frequent. To provide context, the list noted a solitary eulogy in 2010, followed by six in 2011 and just one in 2012. The narrative took a dramatic shift in 2013, with a surge in recorded bitcoin death announcements, reaching 17. Subsequently, in 2014, the count rose to 29 and further climbed to 39 in 2015. However, 2016 saw a dip, registering only 28. The peak in obituaries occurred in 2017, with an astonishing 124 bitcoin eulogies recorded, setting a record that still stands.
In the subsequent years, the cryptocurrency continued to face skepticism and was met with varying degrees of pessimism. In 2018, it encountered 93 death declarations from critics, and 2019 witnessed 41 such announcements. The count dwindled to a mere 14 in 2020 but rebounded to 47 in 2021. The year 2022 showed a moderate uptick with 27 recorded obituaries. As we enter the final months of 2023, the cryptocurrency would need an additional eight death proclamations to surpass the count from 2020.
The most recent proclamation of bitcoin’s demise came from tech magnate Chamath Palihapitiya in April, declaring that “crypto is dead in America” during an episode of the “All-In” podcast. At that time, Bitcoin was priced at $27,817.50 per unit. Fast forward to October 5, 2023, and it continues to hover around a similar price point.
The decline in bitcoin obituaries raises questions about the evolving perception of cryptocurrencies and their resilience in the face of skepticism. What are your thoughts on this remarkable reduction in bitcoin death pronouncements? We invite you to share your insights and opinions on this topic in the comments section below.
Frequently Asked Questions (FAQs) about Crypto Obituaries
What is the Bitcoin Obituaries list?
The Bitcoin Obituaries list is a comprehensive record of statements and declarations that suggest the demise or failure of Bitcoin as a cryptocurrency.
How has the trend in Bitcoin obituaries changed in 2023?
In 2023, there has been a significant decline in Bitcoin obituaries compared to previous years. Only seven such declarations have been recorded, marking the lowest number since 2012.
What does the historical data on Bitcoin obituaries reveal?
Historical data shows a fluctuating pattern in Bitcoin obituaries. There were minimal obituaries in the early years, followed by a surge in 2013 and 2014. The peak occurred in 2017 with 124 recorded obituaries. Subsequent years saw varying levels of skepticism, with 2020 showing the lowest count.
Who are some notable figures who declared Bitcoin’s demise?
Tech magnate Chamath Palihapitiya and chief economist Robin Brooks are among the notable figures who have publicly declared Bitcoin’s demise. Palihapitiya’s proclamation in April 2023 garnered attention.
What factors might explain the decline in Bitcoin obituaries in 2023?
The decline in Bitcoin obituaries in 2023 may reflect changing perceptions of cryptocurrencies, growing adoption, and increasing confidence in their resilience.
What are the implications of this trend for the cryptocurrency market?
The trend of declining Bitcoin obituaries suggests a potential shift in sentiment and increased confidence in the long-term viability of cryptocurrencies, which could have positive implications for the crypto market.
More about Crypto Obituaries
- Bitcoin Obituaries List
- Chamath Palihapitiya’s “Crypto is Dead in America” Statement
- Historical Bitcoin Obituaries Data