Bitcoin (BTC) and the crypto market have seen significant volatility towards the end of the year, with the price of BTC plummeting below $50,000 in recent weeks.
Given the current unfavorable situation, the number of times Bitcoin has been declared dead increases to 42 times by 2021, according to 99Bitcoins.
The number of times Bitcoin is declared dead in 2021 is 3 times as many times as in 2020, a total of 14 times.
Founded in 2010, the 99Bitcoins website has acted as an official repository for all the times someone has said that Bitcoin is or will die. The site uses strict standards for posting content.
Some of the factors considered to determine whether to publish an obituary on a website include:
“The content itself (not just the title) should be clear about the fact that Bitcoin is or will be worthless (there is no “may”).”
Additional requirements require the content to be from a person with a significant following or a website with a high number of visitors.
Bitcoin can become worthless
The most recent claim of BTC dying was on December 14, 2021, with a Bitcoin price of $46,612, according to the Bank of England Deputy Governor, Sir Jon Cunliffe, who expressed concern. fear that the rapid rise of cryptocurrencies could pose a serious danger to the financial system.
Bank of England Deputy Governor Warns Cryptocurrencies Could Fall to 0
Another Bank of England Official Says Bitcoin Could Become “invalid” and anyone investing in BTC should be prepared to lose everything they have invested.
Respected Professor Says Bitcoin May Not Last Long
Distinguished professor of international policy at Cornell University, Eswar Prasad, has speculated that Bitcoin’s existence may not be sustainable in the long run.
According to Prasad, the inefficiency and inability to allow exchanges as a form of payment, could cause Bitcoin to disappear.
“Bitcoin itself may not last much longer Bitcoin’s use of blockchain technology is not very efficient Since Bitcoin does not serve well as a medium of exchange, I do not think it will have any any base value.
Despite the sharp increase in the number of claims Bitcoin will die in 2021, Bitcoin ROI shows BTC’s return on investment (% ROI) against the USD at 59.75% to date (YTD) .
Currently, Bitcoin is trading at $46,895, down 0.18% over the past 24 days and 3.35% from seven days ago, for a total market value of $886 billion.
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