Since its launch in 2009, Bitcoin has repeatedly been declared “dead” by financial analysts, media outlets, and skeptics. These pessimistic forecasts often arise during price crashes, regulatory upheavals, or security breaches. However, despite over 470 obituaries, Bitcoin has not only survived but thrived, reaching historic price milestones. Below is an overview of Bitcoin’s notable “deaths,” complete with price data and market context.
1. The Early Days (2009-2010): Bitcoin’s First “Death”
- December 15, 2010: Wired publishes “Bitcoin: The Cryptocurrency Is Done For” when Bitcoin was priced at $0.23.
- Context: Bitcoin was a niche experiment, with little mainstream awareness.
- Outcome: Despite skepticism, Bitcoin gained traction and began increasing in value.
2. Early Growth and Crashes (2011-2013)
- June 20, 2011: After surging to $32, Bitcoin crashes to $2 following a Mt. Gox hack. Gizmodo declares, “Bitcoin Is Dying.”
- December 11, 2013: Forbes questions, “Is Bitcoin Going To Zero?” as the price falls from $1,166 to $170 after China’s banking ban.
- Outcome: Bitcoin rebounded, peaking at $266 in April 2013 before further volatility.
3. The Mt. Gox Fallout (2014-2015)
- November 20, 2014: Bloomberg proclaims “Bitcoin Is Still Doomed” as the price drops from $641 to $433 following Mt. Gox’s collapse.
- January 8, 2015: Fool.com claims, “Why Bitcoin Is Doomed as a Currency” when Bitcoin hovers at $821, later declining to $200.
- Outcome: Despite setbacks, Bitcoin recovered to $800 by early 2016.
4. The ICO Boom and Bust (2017-2018)
- 2017: A record 124 obituaries. Prices surged from $1,000 to $19,783 (Dec 17) before crashing to $3,122 in 2018.
- June 6, 2017: Express warns, “It’ll All Be Worth Zero” at $7,806.
- December 7, 2018: Forbes revisits “Is Bitcoin Going To Zero?” at $3,432.
- Outcome: Bitcoin rebounded, stabilizing in 2019 and beyond.
5. Maturation and Institutional Interest (2020-2021)
- September 28, 2021: A Twitter user claims, “Extreme Rally Before Final Death” when Bitcoin is at $41,034.
- Outcome: Prices recovered, hitting $68,789 in November 2021.
6. Institutional Adoption and Bitcoin ETFs (2023-2025)
- 2023: Only 7 obituaries, the lowest in a decade. Bitcoin surpasses $100,000 by year-end.
- 2024: Just 2 obituaries as Bitcoin reaches $108,268 (Dec 17, 2024).
- February 27, 2025 (Present): Bitcoin remains near record highs, with fewer skeptics than ever.
Key Price Milestones
- 2010: $0.23
- 2011: $32 → $2
- 2013: $1,166 → $170
- 2017-2018: $19,783 → $3,122
- 2021: $68,789
- 2023-2024: Over $100,000 → $108,268
Conclusion
Bitcoin has survived and thrived despite being declared “dead” hundreds of times. Its journey from a few cents to over $100,000 showcases the power of decentralization and market resilience. Has Bitcoin finally silenced its critics, or will we see more obituaries in the future?
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and subject to market risks. Always conduct your research before investing.
