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As Bitcoin (
$78,976.00 ) (BTC) was hitting new historical highs above $68,000 this year, global cryptocurrency naysayers were increasingly blasting BTC for its extreme volatility and potential risks.
According to Bitcoin ( $78,976.00 ) Obituaries data by Bitcoin ( $78,976.00 ) education portal 99 Bitcoin ( $78,976.00 ) s, the original cryptocurrency was declared “dead” as many as 45 times in 2021, which is at least three times more than in 2020.
Despite the growing number of Bitcoin ( $78,976.00 ) critics in 2021, the amount of obituaries is still significantly less this year than was recorded in 2017, the year when BTC first reached close to $20,000. That year, Bitcoin ( $78,976.00 ) “died” 124 times.
Incepted in 2010, 99 Bitcoin ( $78,976.00 ) s’s Bitcoin ( $78,976.00 ) Obituaries list includes English-language statements including content about the fact that Bitcoin ( $78,976.00 ) “is or will be worthless.” To qualify an obituary, the content should be produced by a person with a “notable following or a site with substantial traffic.”
T has counted 438 obituaries so far, with one of the latest obituaries produced by Robert McCauley, an associate member of the Faculty of History at the University of Oxford. In a Dec. 22 guest post for The Financial Times, McCauley argued that Bitcoin ( $78,976.00 ) is “worse than a Madoff-style Ponzi scheme,” arguing that BTC holders “will have no one to pursue to recover” sums that they “paid the miners for their Bitcoin ( $78,976.00 ) .”
Eswar Prasad, senior professor of international trade policy at Cornell University, previously predicted that “ Bitcoin ( $78,976.00 ) itself may not last that much longer” due to the growing “promise of decentralized finance.”
While Bitcoin ( $78,976.00 ) naysayers keep betting on a gloomy future of BTC, some analysts like Bloomberg commodity strategist Mike McGlone believe that Bitcoin ( $78,976.00 ) could hit $100,000 next year.
Related: Crypto community responds to Charlie Munger yelling at Bitcoin ( $78,976.00 ) again
As previously reported, the crypto community has been strongly anticipating BTC to hit $100,000 by the end of 2021. After failing $100,000 predictions, some executives like Kraken CEO Jesse Powell are still bullish on Bitcoin ( $78,976.00 ) price in the long term but also expect a potential crypto winter in the short term.
At the time of writing, Bitcoin ( $78,976.00 ) is trading at $47,597, up around 70% over the past 365 days, according to data from CoinGecko.
Bitcoin ( $78,976.00 ) 365-day price chart. Source: CoinGecko
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