Bitcoin is often discussed within two themes in the mainstream media: one is its death, and the other is the formation of bubbles. While the question of how many times Bitcoin (BTC) has “died” in 13 years is a subject of curiosity, attention is also drawn to the environmental harms caused by mining.
According to the 99Bitcoins platform, Bitcoin has received 474 “death reports” since 2010. These instances are particularly concentrated during tough bear markets. However, Bitcoin has managed to recover from major losses after each “death” announcement, reaching new peaks.
In November 2013, Indian writer Chetan Bhagat wrote an article declaring the death of cryptocurrencies. Even though altcoins experienced significant declines during this period, BTC and the overall crypto markets are still very much alive.
Whether Bitcoin is dead or not can be determined by situations such as very few people making transfers on the Bitcoin network, exchanges closing due to a lack of interest, and the inability to find someone to trade BTC. However, nowadays, this seems highly unlikely.
Bitcoin and other cryptocurrencies continue to evolve based on the concept of intangible property rights. Even governments are acknowledging the permanence of cryptocurrencies by working on regulations, and trillion-dollar asset managers strive for ETF approvals.
In summary, while the decrease in demand during bear markets may lead to reports of Bitcoin’s death, the survival of the king of cryptocurrencies is expected. Altcoins may die, and many have, but Bitcoin and the strong ones will continue to survive.