RIP Bitcoin Obituaries, Lopp's Post Hints At A Decline In Bitcoin's BTC/USD Death Proclamations

Jameson Lopp's recent post on X, “RIP Bitcoin Obituaries,” suggests a decline in Bitcoin’s BTC/USD death proclamations

Software engineer, columnist, and Bitcoin advocate Jameson Lopp recently took to Twitter to highlight a decline in Bitcoin (CRYPTO: BTC) death proclamations, sparking interest in the cryptocurrency’s resilience.

In a Christmas Eve post, Lopp hints at the diminishing frequency of such death declarations. Bitcoin, the world’s largest cryptocurrency by market capitalization, has faced numerous critiques since its inception over 15 years ago, leading to its “death” being declared 477 times, according to 99 Bitcoins’ Obituaries tracker.

The last wave of such negative sentiments emerged in April. However, the number of Bitcoin death reports has been on a decline, hitting a decade-low of 8 in 2023. In 2024, 99 Bitcoin’s obituary timeline lists only two such fatal declarations.

Data from Bitbo shows an even more dramatic drop in Bitcoin obituaries. A graph from the real-time Bitcoin dashboard shows how these proclamations have thinned out since 2022.

Source: bitbo.io

Lopp also noted the resilience of the apex cryptocurrency in another post in the same thread. Even Bitcoin’s detractors are “coping” these days by saying that “scams can go on in perpetuity and now that Bitcoin has many billionaires and politicians who are ‘in on it’ that it’s going to stick around,” he adds.

The decline in Bitcoin’s death proclamations signals a shift in mainstream media’s perception of the cryptocurrency. According to a previous report, the highest number of Bitcoin obituaries came in 2017. Even that year, the apex coin surged a record-breaking 1,900%.

Indeed, Bitcoin has been on a tear in 2024, enjoying gains of 132.2% since January. Over the last 3 months alone the crypto has shot up over 56%. Its most recent all-time high was recorded just a week ago on Dec. 17 when it hit $108,268.45.

Benzinga recently noted that if an investor had put $1,000 into Bitcoin the last time an obituary was published in April, they would have gained 48%. These obituaries often surface when the cryptocurrency is facing a bear market or heightened regulatory scrutiny.