Connect with us

Bitcoin

Bitcoin has already been declared dead 15 times in 2022 alone

Published

on

The poor performance of Bitcoin (BTC) price in 2022 caused “obituaries” about the biggest cryptocurrency on the market to skyrocket.

This year alone, BTC has been declared dead at least 15 times, according to the website 99 Bitcoins, responsible for cataloging all death certificates.

The most recent episode took place on June 19, when News.com.au reported that BTC was dead after dropping to $17,000 on June 18.

According to the portal, cryptocurrencies are highly volatile, which means that their values ​​often make huge swings without warning:

“Investing in cryptocurrency is a very risky business. You could be left with less money than you invested and you could even lose it all – even if you spend what seems like a safe bet.”

He died, but he’s doing fine.

While the cryptocurrency has a strong community of enthusiasts, critics are also numerous. Proof of this is that the cryptocurrency has been declared “dead” at least 455 times since 2010.

To classify content as an obituary, it needs to be explicit about BTC being worthless or worthless.

The first time the digital currency was given up for dead this year was right at the beginning of January. At the time, the portal In These Times called BTC a ponzi scheme and said that a crash was imminent. At that time, the price of Bitcoin was in the $45,000 range.

“The cryptocurrency crash is about to happen for the same reason that all Ponzi schemes eventually fall apart: there is not an endless supply of new people willing to pay ever-increasing prices for the things you currently own.”

Bitcoin died?

Then, at the end of January, it was the turn of Peter Schiff, famous BTC critic, to reaffirm his theory that the price of Bitcoin goes to zero.

“But in the long run the price of Bitcoin will be zero. So you cannot buy Bitcoin in the long term. At most you can buy it as a short-term speculation, but only if you get out in time!”

Back in February, the Twitter user known as @Travis.web1 said that in 4 years, Bitcoin would be a traumatic memory.

Meanwhile, Charlie Munger called cryptocurrencies “a venereal disease” and John Plender said BTC would run out of big fools.

In the month of May, Jorge Stolfi, professor of Computer Science, said that payment systems with cryptocurrencies are totally dysfunctional:

“Every computer scientist should be able to see that cryptocurrencies are totally dysfunctional payment systems and that ‘blockchain technology’ (including ‘smart contracts’) is a technological fraud. Could they please say that out loud?”

In addition to these “compliments”, BTC received many others throughout 2022, but the cryptocurrency lives on.

News Source