The famous phrase “Bitcoin Dead” seems to have experienced a decline in 2023 compared to previous years. This data could indicate a resilience of the queen of the crypto market in the last year just ended. Here are the details.
“Bitcoin Dead”: in 2023 there are only 8 death proclamations of the crypto queen
According to what is reported, it seems that in this 2023 the proclamations of Bitcoin’s death, the famous phrase “Bitcoin Dead”, seem to have dropped to only 8 statements.
This data could indicate a resilience of Bitcoin for the past year, as in 2021 and 2022, “Bitcoin Dead” had been declared 47 and 27 times respectively.
The list of Bitcoin obituaries on 99bitcoins.com reports a total of 475 death proclamations since its birth. For each year, the number of declarations is associated, with 2017 leading the ranking with a staggering 124 death calls for the queen of cryptocurrencies.
Anyway, for this 2023, the last of the 8 reported statements has been attributed to crypto advocate Arthur Hayes, who warned that if exchange-traded funds (ETFs) achieve excessive success, they will “completely destroy bitcoin”.
“Bitcoin Dead”: the decrease in the number of proclamations in 2023 makes BTC resilient
In addition to the collected proclamations, it is possible to see the query “Bitcoin is Dead” on Google Trends to understand the level of general interest.
In June 2022, in fact, it had been analyzed that the term had reached a peak in the search on the internet giant, reaching a maximum of 100 out of 100. If we look, instead, at the last week of December 2023, the score on Google Trends for this query was 29 out of 100.
As anticipated, this decrease in death proclamations in 2023 compared to previous years, may suggest that Bitcoin is proving to be resilient.
And indeed, if one thinks that there are still those who do not see a future for Bitcoin, there are many more who instead see that the asset is here “to stay”. This leads to having a long-term vision of Bitcoin.
The positive forecasts for the price of BTC
And while the number of those predicting the death of Bitcoin decreases on one hand, on the other hand, the number of those supporting positive price forecasts for BTC also increases.
In fact, this 2024 is the year of the fourth bitcoin halving that will take place in April, while in this month of January 2024 we are waiting for the approval of the first ETFs on Bitcoin spot by the SEC of the USA.
Only these two hot topics have led financial industry figures to expose themselves with their optimistic predictions about the price of Bitcoin.
Last month, Bloomberg shared its prediction, stating that BTC could be worth over $500,000.