Bitcoin Milestone: Over Year and a Half Without “Death” Declaration

Bitcoin (BTC) hasn’t been declared ‘dead’ since April 17, 2024, which means that for more than 18 months, critics haven’t issued the usual obituary headlines heralding the death of the world’s largest cryptocurrency.

Why This Matters

As it happens, every downturn or crisis in Bitcoin’s history has been accompanied by bold claims that “Bitcoin is dead.” Blogs, mainstream media outlets, and analysts have frequently declared the end of the network, the asset, or its value proposition.

According to 99Bitcoins, Bitcoin has been declared dead 477 times since its inception. The entry for April 17, 2024, marked the most recent in a long string of such declarations. The author of this obituary was Rafi Farber, who said on X at the time that BTC was heading “to the end game:”

After that date, no major obituary-like headline has come out This marks a notable shift: Bitcoin has gone more than 18 months without a death declaration.

There are several forces that may explain this silence. Firstly, greater institutional involvement and mainstream adoption have improved Bitcoin’s stability and narrative. Additionally, with spot Bitcoin exchange-traded funds (ETFs) and clearer regulatory frameworks, BTC’s underdog status has changed.

At the same time, critics might be more cautious about issuing dramatic headlines about Bitcoin’s death when historical resilience is so clear. Still, the milestone isn’t a guarantee of smooth sailing. Bitcoin remains volatile, regulatory risks persist, and macro pressures loom.

However, the fact that detractors haven’t pronounced its demise in over a year and a half is itself a signal that the narrative is shifting from doom to durability.

Bitcoin price analysis

Meanwhile, Bitcoin was at press time changing hands at the price of $101,664.16, which represents a decline of 1.9% in the last 24 hours, a 1.66% drop across the previous seven days, and an accumulated loss of 11.35% on its monthly chart, according to the latest data.

Some analysts have warned of a potential macro trend forming, with several key indicators, from liquidity heatmaps to dominance charts, painting a mixed picture: local strength on low-timeframes, but early signs of exhaustion on higher-timeframes.

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