More than 100 days have passed since the end of 2022 and bitcoin prices have risen more than 80% since then. In the past 30 days, bitcoin has risen more than 45% against the U.S. dollar. Despite recovering this year after a long crypto winter the previous year, the Bitcoin obituary 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, chief economist at the Institute of International Finance, who claims that bitcoin is “just another bubble asset.”
Despite bitcoin’s market performance this year, bitcoin has died six times in the eyes of skeptics
18} According to the Bitcoin Obituarieslist hosted at 99bitcoins.com, Bitcoin opponents have declared the major cryptocurrency dead 473 times since 2010. 2022, Bitcoin has been declared dead 27 times. received, a lower number than in some other years. However, it compares to the 124 death declarations recorded in 2017 and the 93 death declarations listed for the following year, 2018. These death notices are not memorials, remembrances, commemorations, or tributes. Rather, they were written by Bitcoin opponents who are unconvinced and believe that the glory days of cryptocurrency are over.
The latest bitcoin obituary was written by Robin Brooks, chief economist at the Institute of International Finance, who on March 14,: “In short, bitcoin is just another bubble asset that will blow up when the Fed gets serious about raising rates. It turns out that it is. Zero value preservation function. Zero diversification benefit. Zero yield. Sayonara bitcoin…” In addition to Brooks, there are five obituaries regarding the so-called death of bitcoin in 2023. Prior to Brooks’ remarks, Daily Express personal finance editor Harvey Jones called bitcoin a Ponzi scheme, saying:
Bitcoin and the pathetic fake currency that has emerged in its wake is the worst thing that has happened to the investment world in my lifetime. It is a joke wrapped in a scam, wrapped in a Ponzi scheme, and sold as a get-rich-quick investment opportunity.
Among the skeptics who wrote the Bitcoin obituary in 2023 were Robert Park of the Cincinnati Enquirer, JPMorgan CEO Jamie Dimon, geopolitical expert Peter Zeihan, CNBC anchor Jim Cramer, and former U.S. Securities and Exchange Commission official John Reed Stark. Both Park and Dimon, like dozens of skeptics before them, have compared bitcoin to a Ponzi scheme. Like gold advocate Peter Schiff, Zeihanbelieves thatthe value of BTC
will drop to zero, down to negative price territory.
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