Bitcoin Declared 'Dead' 3x Less in 2020 Compared to 2019, Least Times in 7 Years

Data presented by cryptocurrency trading simulator Crypto Parrot indicates that Bitcoin 2020 obituaries were 13, a drop of 68.29% from 2019’s 41 deaths. Last year’s Bitcoin deaths represented the lowest number since 2013. Since the asset’s inception in 2010, there have been death declarations totaling 382.

Death declarations linked to negative happenings around Bitcoin

In 2018, Bitcoin was declared dead 93 times, while in 2017, it recorded the highest obituaries at 124.

Interestingly, 2017 recorded the highest Bitcoin deaths, the same year the asset hit $20,000, an all-time high at that period. It is important to note that the all-time high was mainly influenced by the retail investors and the initial coin offering frenzy.

The Crypto Parrot research highlighted several instances that contributed to Bitcoin’s death declarations. According to the research report:

"Overall, Bitcoin’s death declarations have come in the wake of the asset facing negative attention like massive price correlations. The mainstream media and leading economists initially took the lead in casting doubt about the asset’s future. However, with institutions embracing Bitcoin, the narrative appears to be changing."

Although Bitcoin has achieved a lot more than expected, the asset still has a long way to go. It is bound to face more obstacles over the years.

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27 January 2021 13:10