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According to the Bitcoin Obituaries list, bitcoin has died 15 times in 2022, and the last obituary written about bitcoin’s death was June 18, in a recent statement that said: “Bitcoin Will Not Recover.” Interestingly, Google Trends data shows that the search phrase “bitcoin is dead” is estimated to reach a record high this week.
In recent times, you may have heard the phrase “bitcoin is dead” or something similar. A large number of people really believe that bitcoin is dead, while many believe that cryptocurrencies are the future of money. The last two weeks have been cruel for bitcoin as prices fell to a low of $ 17,593 per unit.
The analysis company Glassnode shows that the losses over the last three days have been enormous. “The last three consecutive days have been the largest USD-denominated realized loss in bitcoin history,” Glassnode detailed. “Over $ 7,325B in BTC losses have been locked in by investors using coins that were accumulating at higher prices.”
Meanwhile, two days ago, the Bitcoin Obituaries list on 99bitcoins.com indicates that bitcoin has registered its 15th death this year. The obituary statement is written by the gold bug and economist Peter Schiff via Twitter. Schiff has always believed that bitcoin is worthless, and he has said several times that BTC’s price is approaching zero. Schiff’s recent obituary for bitcoin called “Bitcoin will not recover”, says that the current cryptocurrency is just the beginning. Schiff’s obituary statement says:
Long-term bitcoin holders are not worried as they have been through a 73% decline before. However, previous declines did not come close to the total market value lost during this downturn, nor did they imply a massive impact. This crash has just begun. Bitcoin will not recover.
Bitcoin.com News recently reported on Schiff’s bitcoin opinion last week when he said that crypto – fighters’ need to sell bitcoin to pay the bills will only get worse as the recession deepens. Google Trends data shows that there have been an awful lot of “bitcoin is dead” searches, and this week’s GT data score for the phrase “bitcoin is dead” is expected to reach a record high of 100.
The last time GT data had shown that the search phrase reached a peak was during the Terra blockchain failure, and during the week 8.-14. May, the search phrase «bitcoin is dead» reached 38 out of 100. So far, according to The Bitcoin Obituaries list hosted on 99bitcoins.com, 2022’s list beats 2020, 2012, 2011 and 2010.
2021 saw about 47 obituaries and 2020 saw only 14. The lowest number of deaths was in 2010 with a single obituary called “Why Bitcoin can not be a currency”, which was published on December 15 of the same year. To date, bitcoin has died 455 times as far according to the Bitcoin Obituaries list.
What do you think of the “bitcoin is dead” statement and the Bitcoin Obituaries list? Tell us what you think about this topic in the comments section below.
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