Bitcoin has died 466 times – 2 new deaths added to Bitcoin obituary list after FTX collapse

Just before the FTX collapse, bitcoin was trading above the $20K area and after the problems started to show and the company filed for bankruptcy, the price of bitcoin dropped nearly 19% below where it was a few days before the fiasco. According to the official bitcoin death list, the drop in crypto-currency prices has added two more bitcoin deaths to the list of so-called bitcoin deaths over the years.

2 more death notices added to the list of Bitcoin Obituaries after FTX’s demise.

It’s safe to say that FTX’s collapse sent crypto-currency prices plummeting and since its demise, the price of bitcoin has risen. The Bitcoin obituary list hosted on 99bitcoins.com has added two deaths to the long list of written obituaries published since December 15, 2010.

According to the list, bitcoin has died 466 times since 99bitcoins.com started the death list. So far in 2022, about 22 bitcoin obituaries have been added this year, which is more than 2010, 2011, 2012, 2013 and 2020 in terms of deaths per year.

The last two were recorded after FTX collapsed, and the first came from the Ramp Capital Twitter account. At the time of the obituary’s publication, BTC was worth about $15,880.78 per unit, according to 99bitcoins.com.

Crypto died today. I don’t see how it recovers from this. Generational wealth evaporated. Trust evaporated.

– Ramp Capital (@RampCapitalLLC) November 9, 2022

“Crypto is dead today,” Ramp Capital tweeted. “I don’t see how she recovers from this. Generational wealth has evaporated. The trust has evaporated. “In another statement and the second bitcoin obituary after Ramp Capital’s tweet, author Chetan Bhagat shared his article entitled “Crypto Is Now Dead.“

Hi all,
“Crypto is now dead: FTX, a cryptocurrency exchange, collapsed last week, proving a lot of cool guys horribly wrong,” my column in TOI today.

Do read and share! pic.twitter.com/A4ClVdHOt2

– Chetan Bhagat (@chetan_bhagat) November 15, 2022

On Twitter, Bhagat stated:: “Crypto is now dead: FTX, a crypto-currency exchange, collapsed last week, proving many cool guys terribly wrong“, quoting from his editorial.

Bhagat and Ramp Capital join popular essayist Nassim Nicholas Taleb, economist Peter Schiff and many others who have also written bitcoin death sentences. While 2022 has about 22 deaths so far and the year is almost over, 2017 saw the most bitcoin obituaries added to the list.

A total of 124 bitcoin obituaries were added in 2017 and the second highest year was 2021. Both of these years were extremely bullish for bitcoin, as they both broke price records. Ironically, the very first bitcoin obituary notes that “the only thing that has allowed Bitcoin to survive this long is its novelty“, while this so-called novelty has not disappeared in 14 years.

The list of bitcoin obituaries hosted on 99bitcoins.com is always fun to read, but none of the so-called death calls have ever materialized. The recent obituaries from Bhagat and Ramp Capital simply join the hundreds of others who believe that “this time will be different” and that bitcoin will be brought to its knees.

The main cryptographic asset, bitcoin, however, is alive and well and its exchange rate is beating like a heart. In terms of uptime, the Bitcoin network has run smoothly 99.98785008872% of the time since its inception on January 3, 2009.