This is the number of times Bitcoin has been declared ‘dead in 2023 so far’

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Despite the success and mainstream popularity that the cryptocurrency industry and flagship decentralized finance (DeFi) asset has achieved so far, notable critics have continued to declare Bitcoin (BTC) worthless, including four times in 2023.

Indeed, these critics, which include individuals with a significant following or sites with heavy traffic, have declared Bitcoin dead 471 times so far, according to data retrieved by Finbold from the cryptocurrency news platform. 99bitcoins on February 1.

Bitcoin 30-day obituaries vs. price chart. Source: 99bitcoins

According to the website, this platform accepts submissions of so-called Bitcoin obituaries, which are pieces of content from prominent critics that explicitly state that Bitcoin is or will be worthless, excluding statements that possibly imply and could.

Acclaim stacks up despite progress

In the past month alone, Bitcoin has been declared dead four times by naysayers, despite growing 40%. The latest such statement comes from an article by Cincinnati Enquirers Robert Park, which declared the biggest crypto ponzi ever on January 29, when the price of BTC soared to $23,775.

As he wrote:

Crypto is a Ponzi scheme. It’s the computer version of what Bernie Madoff did in a New York mutual fund fraud in the 80s and 90s, which was the biggest Ponzi scheme of all time so far.

Other accolades include Bitcoin Is a Fraud Fraud by JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon on January 19, Bitcoin Will Go Negative by geopolitical strategist Peter Zeihan during The Joe Rogan Experience podcast on January 7. On January 6, TV personality Jim Cramer and former U.S. Securities and Exchange Commission (SEC) attorney John Reed Stark said that Crypto is big business.

Interestingly, Bitcoin was also declared dead at the height of its success on November 8, 2021, when it changed hands at $67,567. At the time, The Spectators Sam Leith wrote an article titled The Bitcoin delusion, in which he compared Bitcoin to a ticking time bomb:

Absent its use as currency, however, the only thing sustaining the value of crypto is the expectation that there will always be someone else paying to take it away from you. You are, essentially, betting on being the last person to hold the bomb before it explodes.

bitcoin price analysis

Meanwhile, Bitcoin has made significant progress since the end of the years, as optimism in the market has been restored with the new year. In fact, it’s rallied 39.15% over the past 30 days, at press time, priced at $23,121 — a strong run despite rising just 2.26% over the week and a loss of 0.04% in the last 24 hours.

30-day Bitcoin price chart. Source: Finbold

Meanwhile, senior commodities strategist Mike McGlone predicted that Bitcoin would hit $100,000 by 2025, an optimistic attitude shared by crypto experts at TradingShot, who suggested its price could climb to $150,000. in a similar time frame.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

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