⸺ Obituary · June 18, 2022 ⸺
“Bitcoin Will Not Recover”
Peter Schiff
Photo: Gage Skidmore (CC BY-SA 3.0), via Wikimedia Commons
“Previous declines didn't involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. This crash is just beginning. #Bitcoin will not recover.”
Price at death
$18,949
Today
$61,577
Resurrection
×3.2
On 2022-06-18, Peter Schiff (Stock Broker / Economist) declared Bitcoin dead via Twitter. Bitcoin was trading at ~$18,949 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 18, 2022, when one Bitcoin traded for approximately $18,949. Since then, Bitcoin has appreciated by 3.2× relative to the price on the day Crypto Twitter (X) pronounced it finished.