99 Bitcoins’ Obituary Tracker Counts Over 328 Times BTC Has Been Declared Dead by the Media
Paul Donovan of UBS recently appeared on CNBC’s Fast Money and expressed that his main goal was to bury bitcoin. As he stated,
“These things were never going to be currencies. They’re not going to be currencies at any point in the future. They’re fatally flawed. Right from the start of the hike in late last year, it was fairly obvious that this was going to end badly, unfortunately, for some people of who weren’t protected by any kind of regulation and got sucked into the process.”
Donovan’s words were not necessarily incorrect. BTC has significantly declined, just about to the point of coming to an end, hundreds of time. For example, some believe that BTC has crashed in 2011, 2013, 2015 and just recently. Changpeng Zhao discussed his experience with BTC’s 2015 crash. He tweeted:
“I wish I could tell you my lame story from 2015 when the $btc “crashed” to below $200, and I just sold my house and bought in at $600 a few months earlier . . . Well, I am still here.”
Bitcoin’s ability to regain its footing after its many “crashes” suggest that this current bear market is no different. It is possible that BTC will be able to overcome the market challenges and to surprise investors again.
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