The second thing we notice is death calls were far more abundant when Bitcoin topped in 2017 than when it bottomed in 2020.

Looking at the deaths by year we can see two notable things the first is there were far more proclamations of Bitcoin's demise in 2017 than there were in 2021. So far, Bitcoin has been declared dead 466 times since 99bitcoins started tracking submissions from 2010. There's actually a webpage dedicated to tracking how many times a notable media outlet or writer has declared Bitcoin dead. So far, nothing could be further from the truth. But for the sake of this article, I want to explore the idea that Bitcoin is somehow doomed because of the fall of one centralized exchange. In my opinion, whatever kneejerk decision comes out of the regulatory body will not matter - regulations wouldn't have stopped FTX. The calls for regulation are going to get loud. With the exception of Terra, which was highly centralized in its operations, every other collapse in the crypto industry this year has been by a centrally controlled and managed business. Stadium naming rights, endorsement deals, high profile ambassadors, millions of users, and a lot of exchange volume it stings in a big way and it's a black eye on the industry.īut with some time to digest it all, it is imperative that we not conflate the failings of a centralized company in the world of finance with the failing of decentralized crypto networks. FTX ( FTT-USD ) probably hits the hardest because of how big it became. Since then, we've seen the fall of Terra ( LUNC-USD ), the collapse of Celsius Network ( CEL-USD ), and too many insolvencies between the lending and mining companies to list.

We are now 53 weeks past Bitcoin's cycle top of just under $69,000. And that's saying something because 2022 has been pretty awful for crypto proponents and Bitcoin ( BTC-USD) advocates. We're now a little over a week removed from arguably the biggest calamity in crypto this year.

Dead crypto coins