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2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022

Press Releases Crypto News Bitcoin News 2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022

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.”

Despite Bitcoin’s Market Performance This Year, Bitcoin Has Died 6 Times in the Eyes of Skeptics

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, Go to Source to See Full Article
Author: Jamie Redman

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