It’s been more than 100 days since the end of 2022, and the price of bitcoin has risen more than 80% since then. Over the past 30 days, bitcoin has increased by more than 45% against the U.S. dollar. Despite its recovery this year, after a long crypto winter in the previous year, the Bitcoin Obituaries list shows that bitcoin has been declared dead six times by crypto skeptics. The most recent obituary was published on March 14, 2023, by Robin Brooks, the chief economist at the Institute of International Finance, who insists that Bitcoin “is just another bubble asset.”
The Bitcoin Obituaries list hosted on 99bitcoins.com shows that opponents of bitcoin have declared the leading cryptocurrency dead 473 times since 2010. In 2022, bitcoin was declared dead 27 times, which is lower than in several other years. However, it pales in comparison to the 124 death announcements recorded in 2017 or the 93 listed the following year in 2018. These death notices are not memorials, remembrances, commemorative, or tributes. Instead, they are written by opponents of bitcoin who are unconvinced and believe that the cryptocurrency’s days of glory are numbered.
The latest bitcoin obituary was written by Robin Brooks, the chief economist at the Institute of International Finance. On March 14, he wrote: “So it turns out that bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara bitcoin…” In addition to Brooks, there are five more obituaries regarding bitcoin’s so-called deaths in 2023. Prior to Brooks’ statement, Harvey Jones, the personal finance editor of the Daily Express, called bitcoin a Ponzi scheme, stating:
Bitcoin and all the pathetic fake currencies that popped up in its wake are the worst thing to happen to the investment world in my lifetime. They are a joke wrapped in a fraud, wrapped in a Ponzi scheme and sold as a get-rich-quick investment opportunity.
Among the skeptics who have written bitcoin obituaries in 2023 are Robert Park of the Cincinnati Enquirer, JPMorgan CEO Jamie Dimon, geopolitical expert Peter Zeihan, CNBC anchor Jim Cramer, and former U.S. Securities and Exchange Commission official John Reed Stark. Both Park and Dimon compare bitcoin to a Ponzi scheme, as have dozens of other skeptics before them. Like gold advocate Peter Schiff, Zeihan believes that BTC’s value will drop to zero and even negative price territories.
“Crypto is now in the process of going to zero except for bitcoin which will probably go negative because if we’re moving into a world with carbon taxes you have to take into account the energy to produce it in the first place,” Zeihan said.
The Bitcoin Obituaries list hosted on 99bitcoins.com is, of course, a joke played on the writers of these eulogies, with the purpose of enshrining their bad takes on the internet forever. Since the first death announcement in 2010, bitcoin’s value and network effect have grown immensely. It is currently the world’s 11th most valuable asset in terms of market capitalization, ranking just below Tesla’s net worth and above Meta’s market valuation.
Despite being a decentralized cryptocurrency that is not backed by a government or corporation, has no marketing team, board members, or CEOs, and has been attacked by all of these entities over the last 14 years, people still believe that the leading digital currency is doomed, simply because they say so.
What are your thoughts on the Bitcoin Obituaries list in 2023? Do you think bitcoin is here to stay or is its demise imminent? Share your opinion in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, MikeDotta / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.
It’s been more than 100 days since the end of 2022, and the price of bitcoin has risen more than 80% since then. Over the past 30 days, bitcoin has increased by more than 45% against the U.S. dollar. Despite its recovery this year, after a long crypto winter in the previous year, the Bitcoin Obituaries list shows that bitcoin has been declared dead six times by crypto skeptics. The most recent obituary was published on March 14, 2023, by Robin Brooks, the chief economist at the Institute of International Finance, who insists that Bitcoin “is just another bubble asset.”
The Bitcoin Obituaries list hosted on 99bitcoins.com shows that opponents of bitcoin have declared the leading cryptocurrency dead 473 times since 2010. In 2022, bitcoin was declared dead 27 times, which is lower than in several other years. However, it pales in comparison to the 124 death announcements recorded in 2017 or the 93 listed the following year in 2018. These death notices are not memorials, remembrances, commemorative, or tributes. Instead, they are written by opponents of bitcoin who are unconvinced and believe that the cryptocurrency’s days of glory are numbered.
The latest bitcoin obituary was written by Robin Brooks, the chief economist at the Institute of International Finance. On March 14, he wrote: “So it turns out that bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara bitcoin…” In addition to Brooks, there are five more obituaries regarding bitcoin’s so-called deaths in 2023. Prior to Brooks’ statement, Harvey Jones, the personal finance editor of the Daily Express, called bitcoin a Ponzi scheme, stating:
Bitcoin and all the pathetic fake currencies that popped up in its wake are the worst thing to happen to the investment world in my lifetime. They are a joke wrapped in a fraud, wrapped in a Ponzi scheme and sold as a get-rich-quick investment opportunity.
Among the skeptics who have written bitcoin obituaries in 2023 are Robert Park of the Cincinnati Enquirer, JPMorgan CEO Jamie Dimon, geopolitical expert Peter Zeihan, CNBC anchor Jim Cramer, and former U.S. Securities and Exchange Commission official John Reed Stark. Both Park and Dimon compare bitcoin to a Ponzi scheme, as have dozens of other skeptics before them. Like gold advocate Peter Schiff, Zeihan believes that BTC’s value will drop to zero and even negative price territories.
“Crypto is now in the process of going to zero except for bitcoin which will probably go negative because if we’re moving into a world with carbon taxes you have to take into account the energy to produce it in the first place,” Zeihan said.
The Bitcoin Obituaries list hosted on 99bitcoins.com is, of course, a joke played on the writers of these eulogies, with the purpose of enshrining their bad takes on the internet forever. Since the first death announcement in 2010, bitcoin’s value and network effect have grown immensely. It is currently the world’s 11th most valuable asset in terms of market capitalization, ranking just below Tesla’s net worth and above Meta’s market valuation.
Despite being a decentralized cryptocurrency that is not backed by a government or corporation, has no marketing team, board members, or CEOs, and has been attacked by all of these entities over the last 14 years, people still believe that the leading digital currency is doomed, simply because they say so.
What are your thoughts on the Bitcoin Obituaries list in 2023? Do you think bitcoin is here to stay or is its demise imminent? Share your opinion in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, MikeDotta / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.
Solana was up by as much as 15% on Tuesday, as momentum in cryptocurrency markets shifted higher. The global crypto market cap is up by 4.42% at the time of writing. Litecoin was another notable mover, as the token rose to a five-week high.
Solana (SOL) rose by as much as 15% in today’s session, as bullish sentiment returned to cryptocurrency markets.
Following a low of $20.18 to start the week, SOL/USD rose to a peak of $23.20 on Tuesday.
As a result of today’s move, solana rose to its strongest point since March 20, when the token was at a high of $23.99.
From the chart, it appears that today’s move coincided with the 14-day relative strength index (RSI) moving beyond a ceiling at 58.00.
At the time of writing, the index is tracking at 63.74, which is marginally below a higher resistance level of 64.00.
Should solana bulls take the RSI beyond this point, then there is a good chance that price could move above $24.00.
In addition to SOL, litecoin (LTC) was another notable gainer on Tuesday, as the token moved to a multi-week high.
LTC/USD jumped to a high of $96.89 earlier in today’s session, which comes after trading at a bottom of $92.37 on Monday.
Tuesday’s surge saw litecoin climb to its highest level since March 2, when LTC was trading at $98.34.
Looking at the chart, prices briefly rose above a key resistance level of $95.50, however as the session has progressed, these gains have been lost.
At the time of writing, LTC is trading at $95.41, which remains 2.61% higher than Monday’s low.
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What was behind today’s crypto rally? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons, sdx15 / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Source From : News