According to the Bitcoin Obituaries list, bitcoin has died 15 times in 2022, and the last obituary written about bitcoin’s death was on 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 hit an all-time high this week.
The Old Saying ‘Bitcoin Is Dead’ Comes Back to Life
In recent times, you may have heard the phrase “bitcoin is dead,” or something similar. Many people believe bitcoin is dead, while others believe it is the future. Bitcoin prices have fallen to $17,593 an unit over the past week.
Glassnode, an analytics firm, shows that the losses in the past three days were huge. “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 spending coins that were accumulated at higher prices.”
The Bitcoin Obituaries website 99bitcoins.com has posted two days earlier that Bitcoin had suffered the 15th anniversary of its death. Peter Schiff (a bitcoin enthusiast and economist) wrote the statement via Twitter. Schiff has always thought bitcoin is worthless and he has said multiple times that BTC’s price is headed to zero. Schiff’s recent bitcoin obituary called “Bitcoin Will Not Recover,” says the current crypto crash is just the beginning. Schiff’s obituary statement says:
Long-term bitcoin HOLDers aren’t worried as they’ve been through 73% declines before. But previous declines didn’t involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. The crash is only the beginning. Bitcoin won’t recover.
‘Bitcoin Is Dead’ Google Searches Estimated to Rise Significantly This Week
Bitcoin.com News recently reported on Schiff’s bitcoin opinion last week when he said crypto advocates’ “need to sell bitcoin to pay the bills will only get worse as the recession deepens.” Google Trends data shows that there’s 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 hit an all-time high.
The last time GT data had shown the search phrase reach a high was during the Terra blockchain fiasco, and during the week of May 8-14, the search phrase “bitcoin is dead” reached a 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.
In 2021 there were 47 obituaries, while 2020 had only 14. The lowest number of deaths was in 2010 with a single obituary called “Why Bitcoin can’t be a currency,” which was published on December 15 that year. The Bitcoin Obituaries database shows that bitcoin has already been buried 455 times.
What do you think about the ‘bitcoin is dead’ statement and the Bitcoin Obituaries list? Comment below and let us know how you feel about the subject.
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