Bitcoin's 2023 Obituaries: Counting the Times BTC Was Declared Dead

• Bitcoin's Remarkable Survival: An Overview of its Deaths in 2023
• Bitcoin's Deaths in 2023
• The Resilience of Bitcoin
• Bitcoin's Current Trading Value

Bitcoin's Remarkable Survival: An Overview of its Deaths in 2023

Introduced by the elusive Satoshi Nakamoto in 2009 following the 2008 financial crash, Bitcoin$42,260 -0.64% (BTC) was designed to shield investors from the detrimental impacts of global banks, markets, and other financial institutions. Since its inception, Bitcoin has been prematurely declared dead numerous times by mainstream media and financial experts, a narrative that continues to swell yearly in the media.

Despite these repeated declarations of demise, Bitcoin has consistently defied expectation, increasing in value and offering profit to investors over the past decade, a claim that cannot be echoed by the stock markets whose returns have recently been marginal.

Bitcoin's Deaths in 2023

In 2023 alone, Bitcoin was reported dead seven times. These assertions were published between January and May, with headlines such as Crypto is Dead in America and Bitcoin is a Joke Wrapped in a Fraud capturing attention.

At the time of these reports, the value of BTC fluctuated between $16,500 and $27,500. In contrast to the pessimistic pronunciations, BTC experienced a steady price increase, reaching $42,000, with no further obituary stories appearing in the latter half of the year.

The Resilience of Bitcoin

Despite the critics, Bitcoin, the leading cryptocurrency, surmounted the challenges and rose above the $42,000 mark in 2023. The bulk of Bitcoin's detractors have largely remained quiet for now, yet they are seemingly poised to re-emerge the moment BTC experiences a dip.

Bitcoin's Current Trading Value

As of the latest data, Bitcoin was trading at approximately $42,893, an increase of nearly 5% in the 24-hour day trade. However, BTC is down by almost 38% from its all-time high of $69,044, which it achieved in November 2021.

Edited by Jonathan Stoker