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Bitcoin, one of the leading cryptocurrencies that was established back in 2009, has witnessed notable attention. Many globally are optimistic with such a millennial payments network that has been established by Satoshi Nakamoto. However, amid the global COVID-19 pandemic, the Bitcoiners have noted an incredible growth. Moreover, since the beginning of this year, the flagship cryptocurrency has seen several new highs. Following the scenario, 99Bitcoins, a BTC educational portal has noted 438 BTC obituaries have continued since 2010.
Bitcoin has been declared death 438 times since 2010
Although the potential of Bitcoin has attracted several individuals, institutions, and also nations, several naysayers are blasting the asset’s volatile nature. They believe that there is notable potential risk associated with the asset.
According to 99Bitcoins, the cryptocurrency has been declared dead about 45 times this year. Notably, the figure is at least thrice more than in 2010. The BTC Obituaries data has also underscored that the 2021’s count is still significantly less than what the market witnessed in 2017, the first most bullish year of the coin. Indeed, in 2017, the leading digital asset died 124 times.
Furthermore, the portal included that BTC is or will be worthless to qualify an obituary, and it should be produced by a person with a notable following or a site with substantial traffic.
Robert McCauley has produced the latest obituaries
99Bitcoins has yet to count 438 obituaries since 2010. Notably, the latest one of them has been produced by Robert McCauley, an associate member of the faculty of history at the University of Oxford. According to the report published by Finance Times, last week, Robert argued that the leading cryptocurrency is worse than a madoff-style Ponzi scheme and also argued that Bitcoin hodlers will have no one to pursue to recover the sums that they paid the miners for their asset.
Besides, Eswar Prasad, senior professor of International trade policy at Cornell University had previously predicted that the flagship cryptocurrency itself may not last that much longer because of the growing promise of DeFi.
Will Bitcoin’s price hit $100k in 2022?
Bitcoin naysayers keep betting bearish on the future of Bitcoin. However, some analysts are entirely bullish on the asset and believe that the flagship crypto asset would hit $100,000 next year. It is worth noting that the entire crypto ecosystem has been strongly anticipating that Bitcoin would hit the benchmark level of $100k by the end of this year. Still after failing predictions, some optimistic figures are still bullish on the asset’s price in the long term. Besides, these optimistic Bitcoiners also expect a potential cryptocurrency winter in the short term.
