Is Bitcoin dying and going to zero?

Bitcoin remains alive and remarkably resilient, yet after 14 years in existence many people still try to undermine it. Since the day Satoshi Nakamoto created the first block, the Genesis block, on January 3, 2009, Bitcoin has faced both serious and minor challenges, but it has always come out even stronger.

Throughout its journey to date, Bitcoin has shown its strength through the network’s key metrics. The hash rate and the mining difficulty are at all-time highs, reinforcing its reliability. Given this data, Bitcoin stands out as a bigger and more important ecosystem than ever.

Is Bitcoin really dead?

So let’s look at where the idea that Bitcoin is dead comes from: the biggest media outlets, prominent figures in finance and financial institutions, as well as people who have no knowledge or understanding of how Bitcoin works.

Drops in its price, including those caused by “cycles”, which also affect the value of traditional markets, often lead to rumors of Bitcoin’s death.

Even so, the integrity of the Bitcoin network remains intact. The reactions have often been based on changes in the price of BTC (1 BTC = 1 BTC), measured against traditional currencies (trash).

How many times has Bitcoin died?

According to data from 99 Bitcoins, from January 2009 to today (August 26, 2023), there have been at least 474 different declarations of Bitcoin’s “death.”

Let’s look at this more closely. In total, 474 different sources have declared that Bitcoin has reached its end. Each time, Bitcoin’s survival, as it keeps proving itself and growing stronger, is easily ignored. It’s worth looking at some of the most recent examples. One interesting statement came from JPMorgan Chase CEO Jamie Dimon 🤡, who described Bitcoin as a “decentralized Ponzi” during his testimony before Congress in September 2022.

It’s safe to say that Dimon won’t be investing in Bitcoin, even though Bitcoin has delivered huge macroeconomic returns to date, unlike any other type of asset that has appeared on the market.

Will the Bitcoin network stop?

Bitcoin is undeniably alive and real. It has successfully met every challenge thrown at it, overcoming every upheaval it has faced, more than any other cryptocurrency.

Network outages are extremely rare: according to on-chain data, BTC has gone offline only twice, with the most recent incident dating back to 2013.

For Bitcoin holders, the idea that the Bitcoin network will fail or suddenly disappear remains a fantasy and is far from reality.