Bitcoin declared “dead” by the media 461 times, but new data suggests a different scenario
Questions regarding Bitcoin (BTC) continue to be raised as the flagship digital asset struggles to maintain support above the $20,000 price barrier in the current bear market environment, marked by rising inflation, a rise in interest rates and uncertainty among investors.
Along these lines, Bitcoin has been called “dead” a total of 461 times by various members of the media, according to data from 99 Bitcoinsthe cryptocurrency’s official obituary.
But with all that said, records reveal that Bitcoin has been declared dead 21 times so far in 2022, as of September 5; in contrast, BTC was declared dead a total of 47 times in all of 2021.
Is Bitcoin Dead?
Furthermore, data shows that interest in the search term ‘Bitcoin is dead’ has also fallen after a peak on Google Search, according to figures from Google Trends, a website that analyzes the popularity of online searches.
The keyword has seen a decline, with the increase in interest reaching a peak score of 100 between June 12 and 18. Crypto trader Jackie’s noted that this is only the second time since August 1, 2015, that ‘Bitcoin is dead’ reached a score of 100; after each time the “Bitcoin is dead” search has increased, the digital asset has seen a marginal price increase shortly after.
Bitcoin obituaries
Since its inception in 2010, when it was first made available to the public, 99 Bitcoins has been considered the most reliable source for Bitcoin obituaries. Before it can be called an obituary, each obituary published on the site must adhere to the site’s strict standards.
The choice of whether or not to publish an obituary on the website is made after a number of distinct characteristics of Bitcoin being considered “dead” are taken into consideration. These are the following:
“The content itself (not just the headline) must be explicit about the fact that Bitcoin is or will be worthless (no ‘maybe’ or ‘could’).
In addition to these prerequisites, the content in question must originate either from a person who has a significant fan base or from a website that is visited by a significant number of people on a regular basis.
The last death on record occurred on 3 July 2022; The eulogy was made by Peter Spina, the president of GoldSeek, who thought:
“There will come a day when you wish you sold Bitcoin for $20,000! Take a look at the historical chart to see how far a fall is possible, if you are interested in the risks associated with an elaborate Ponzi scheme.”
Bitcoin is currently trading at $19,719, down 0.2% over the past 24 hours and down 0.5% over the past seven days, with a total market capitalization of $376 billion, according to CoinMarketCap statistics.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
