Fewer People Are Saying That Bitcoin Is Dead (Or Dying) – Here’s Why

A few years after its launch in 2009, many finance experts and investors have declared that Bitcoin is nothing but a fad, and that it will die out fast. This notion is the prevalent prediction for many years, especially around 2015 to 2018. The majority easily dismiss or make fun of investors who believe that Bitcoin is going to be of huge value.

However, things have changed. Bitcoin has continued to surge in value right up until 2020, a year that took businesses and the worldwide economy by surprise. As of this writing, Bitcoin is entering 2021 with a bullish projection. Currently, it’s value is playing at the $29,000 mark, and it’s highly likely it will reach $30,000 just within the first few months of 2021.

Bitcoin’s consistent rise in value, and its recognition by banks and digital finance apps speaks volume. With such a performance and reach, it surely is not a fad that will go bust in a few years. In fact, the people who are saying that Bitcoin is dead (or is dying) have been doing so for a decade, and look where it is now? PayPal, for one, just embraced the cryptocurrency as a medium of exchange, and that’s just one of many finance platforms that already recognized and embraced Bitcoin into the fold.

The folks on a Singapore-based website, 99 Bitcoins, kept a record of industry experts and leaders who say that Bitcoin is dead or going nowhere. The number saw a moderate spike in 2013 to 2016, and saw an all-time surge in 2017, around the time when Bitcoin also experienced a historic surge in value.

However, after 2018, the website saw a sharp drop of naysayers. From 93 in 2018, it went down to 41 in 2019. And in 2020, only 11 experts or analysts are listing Bitcoin in “obituaries.” This sharp drop is more likely an effect of the pandemic. As the world now sees the importance of going cashless and using digital transactions, it’s easy to see Bitcoin as a valuable asset in the new normal.