Bitcoin was declared 'dead' twice by 2024 but reached $93,000

Hundreds of obituaries for Bitcoin have been written by mainstream media and financial analysts over the past decade. From calling it a scam to unethical and a fad, the leading cryptocurrency has heard it all. The heat the cryptocurrency market has received has been unimaginable as analysts have been unable to cope with its rise. From a small financial instrument to growing into a trillion-dollar market cap, the growth has been phenomenal.

Not surprisingly, Bitcoin has been declared dead twice by leading financial analysts in 2024 alone, calling it game over. Bitcoin has only accumulated with no end in sight after each time BTC has dropped in the rankings. According to  99Bitcoins , BTC has been declared dead 477 times since its inception.

“Bitcoin has died 477 times,” the report reads, providing links to all the stories that have been written about it. Recent stories like “Bitcoin is headed for the end” and “Bitcoin has failed” have gone viral.

Bitcoin: Rising from the Ashes Despite Obituaries
Despite its obituary being written on every corner, Bitcoin has skyrocketed this month, hitting a new record high of $93,477. It started the month trading at $70,000 but hit $92,000 just two weeks later.

Investors who entered the market earlier this month made a 30% return in 14 days. That’s an extraordinary gain in such a short period of time, and no other financial asset has achieved this feat. Even the world’s top stocks have failed to make a 30% return in two weeks.

However, if Bitcoin falls here, the obituaries will flood in, writing about its demise at every crash. While crypto investors won't pay attention, traders who have yet to enter the market will remain skeptical. If traders make the leap and enter BTC, it will only reward them with every drop over the years.