Bitcoin has been proclaimed ‘dead’ multiple times in the 10 years of its existence. 342 times, to be exact, according to the website Bitcoin Obituaries. But how dead is Bitcoin really?
Bitcoin ‘Died’ at Least 342 Times
According to the website Bitcoin Obituaries, bitcoin has been proclaimed dead 342 times throughout the time of its existence.
Some of the serial Bitcoin ‘killers’ include names such as Warren Buffet who’s said that Bitcoin is “probably rat poison squared”, Jaime Dimon who said that “Bitcoin is a fraud that will eventually blow up”, and so forth.
In 2018 alone, Bitcoin has died 93 times. However, that’s even lower compared to the times the cryptocurrency saw its demise in 2017, which are 125.
2017 was the year Bitcoin went on an unparalleled rally, skyrocketing up to $20,000.
But How Dead is Bitcoin Really?
In its 10 year history, Bitcoin has seen a few major declines. However, as noted by the chief analyst at Fundstrat Global Advisors – Tom Lee, bitcoin price has always recovered to a new all-time high value after a massive decline.
Bitcoin’s uptime since inception is 99.98%. Visa’s network, in comparison, crashed last year, leaving millions of people throughout the entire world without access to their bank accounts and money.
Even Jaime Dimon, the CEO of JP Morgan Chase, has retracted his previous statements regarding the cryptocurrency. Back in January 2018, Dimon said:
The blockchain is real. You can have cryptodollars in yen and stuff like that. ICOs … you got to look at everyone individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.
In the meantime, it appears that we’re seeing growing interest towards the cryptocurrency. There are now over 4,100 Bitcoin ATMs throughout the entire world. At the same time, more businesses are receiving regulatory clearance to further their ventures into the field. Multiple states are on the verge of accepting Bitcoin for tax payments, while some already allow it.
Last but not least, despite losing a major chunk of its value in 2018, Bitcoin is still up 62,000% in the last 7 years.
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