⸺ Obituary · August 14, 2017 ⸺
“Gartman: Avoid The Bitcoin Boom”
— CNBC, Dennis Gartman
“How can you buy a house, how can buy a car, how can you buy Starbucks with bitcoin when price is going to fluctuate as dramatically as it has. This looks to me like… very much.. you can take the chart of bitcoin and apply it against the tulip bulb mania of the 15th century and the patterns look exactly the same.”
Price at death
$4,383
Today
$73,594
Resurrection
×16.8
On 2017-08-14, Dennis Gartman (Investor) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$4,383 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 14, 2017, when one Bitcoin traded for approximately $4,383. Since then, Bitcoin has appreciated by 16.8× relative to the price on the day CNBC pronounced it finished.