⸺ Obituary · December 3, 2018 ⸺
“Bitcoin Is Close To Becoming Worthless”
Atulya Sarin
“Just one year has passed since bitcoin enthusiasts forecasted that the cryptocurrency would hit a price of $1 million. But that was then. With the price of bitcoin having fallen almost 80% from its peak, and now trading well-below the support level of $6,000, everyone is wondering where it goes from here. The answer is, a swift and painful drop to zero.”
Price at death
$3,856
Today
$61,577
Resurrection
×16.0
On 2018-12-03, Atulya Sarin (Professor, Santa Clara University) declared Bitcoin dead via MarketWatch. Bitcoin was trading at ~$3,856 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 3, 2018, when one Bitcoin traded for approximately $3,856. Since then, Bitcoin has appreciated by 16.0× relative to the price on the day MarketWatch pronounced it finished.
