Bitcoin News

The end of Bitcoin has now been announced more than 400 times in 12 years

The end of Bitcoin has now been announced more than 400 times in 12 years

Wednesday’s market crash has triggered yet another barrage of obituaries from the mainstream media. The Bitcoin price took a sharp dive to “pre-Elon Musk pump” levels of $30,000. Moreover, the mainstream media took an unsurprising approach covering the market-wide crash. It is by announcing that Bitcoin is dead.

Bitcoin obituaries

According to Bitcoin, obituaries that achieve the end of Bitcoin have been announced more than four hundred times. Thus, there are 414 obituaries for Bitcoin since the time of its inception in 2010. However, yesterday’s postmortem assessments of Bitcoin are still being added.

Biggest Ponzi

These obituaries range from calling the Bitcoin biggest Ponzi scheme in history to comparing the BTC as Monopoly money. Moreover, the first year of Crypto shows only one record when the Bitcoin price was $0.23 explaining why Bitcoin can’t be a currency.

Bitcoin Bull Run

However, more than a quarter of submissions are related to the Bitcoin Bull Run 2017 and a massive crash afterward. Thus, the negative stories on Bitcoin arrive primarily in time of price crashes Bitcoin.

However, obituaries data shows that it is not usual to have an article burying the largest cryptocurrency while the market is still going on.

Good Topic to Criticize

Bitcoin has always been a good topic for the media to criticize. Moreover, price volatility and the mystery of its creator Satoshi Nakamoto are making Bitcoin an easy target for sensational headlines.

In addition, Bitcoin has a decentralized structure that enables usage in illegal transactions. Therefore, despite the crash, some experts are convinced that the market will bounce back.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.