⸺ Obituary · November 10, 2017 ⸺
“Bitcoin Price Will Go To Zero As Bitcoin Will Struggle To Remain The Dominant Cryptocurrency”
— City Falcon, Ruzbeh Bacha
“Blockchain technology is here to stay. Blockchain has plenty of uses outside cryptos (smart contracts embedded in Ethereum are one such example), but Bitcoin probably won’t be the reigning technology in the future. It’s overvalued with a limited chance of success, most likely be replaced by a better cryptocurrency.”
Price at death
$6,570
Today
$73,565
Resurrection
×11.2
On 2017-11-10, Ruzbeh Bacha (Fintech Entrepreneur) declared Bitcoin dead via City Falcon. Bitcoin was trading at ~$6,570 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 10, 2017, when one Bitcoin traded for approximately $6,570. Since then, Bitcoin has appreciated by 11.2× relative to the price on the day City Falcon pronounced it finished.