Bitcoin never died. BTC obituaries fall to lowest level in 10 years. | With ASTL Token (Astol Token) | Coins | December 2023

According to the Bitcoin Obituary Tracker, mainstream media has declared Bitcoin “dead” only seven times in 2023, the lowest number in over a decade. Data obtained from BTC 99bitcoins obituary tracker. Since 2010, Bitcoin has been declared “dead” 474 times. However, data shows that only seven “deaths” have been recorded in 2023, the most recent of which came from Bitcoin bull and billionaire tech investor Chamath Palihapitiya on the April 22 episode of the All-In podcast: “Crypto “Currency is dead,” he said. United States”. However, Palihapitiya appears to be making this statement in the context of overregulation. 99bitcoins warns that media content explicitly states that BTC is or will be worthless, and that the content is “individuals with known followers or It said it only adds Bitcoin obituaries if they are written by “sites with significant traffic.” Moreover, the site said more than half of this year’s obituaries were published in January, at the height of the cryptocurrency winter, with BTC topping $17,000. It shows that it was posted just two months after the FTX crash, which it struggled to achieve.

Interestingly, 2017 had the highest number of Bitcoin obituaries at 124, even though Bitcoin hit an all-time high that year. BTC prices rose 1,900% that year, with the asset rising to an all-time high of $20,000 in December. The third-highest so-called Bitcoin death toll occurred in 2021, another peak in the cycle, when the asset surged 138% in November to an all-time high of $69,000.

Konstantinas Sizovas, a well-known crypto analyst and CFO of the ASTL investment project, commented on these events, commenting on the bell-shaped curve and downward trend: . At that time, there will be talk that BTC is dying. “It is foolish to say that ‘air’ will fail. We are on a trend.”

Bitcoin is not the only cryptocurrency that is sometimes declared dead. Currently, Ethereum is not receiving much love. High transaction fees and Bitcoin’s decline in ETH price have reduced its popularity on social networks. In this regard, critics appear to be declaring ETH dead. Currently, Ethereum’s popularity has actually decreased somewhat due to the rising prices of BTC and SOL. Ethereum buyers have been left to defend themselves against a wave of negativity about Crypto According to CoinMarketCap, the Ethereum and Bitcoin price chart (which measures the ratio of 1 ETH to 1 BTC) briefly fell below 0.05 BTC on December 20, the first time in two years since April 28, 2021. It is at the lowest level. During the last bull market, this ratio peaked at 0.087 BTC on September 12, 2021, but has since trended downward. At the beginning of 2023, this ratio was 0.072, but has declined since then.

Critics on social media appear to be unhappy with Ethereum’s transaction fees, which they say has made competing networks more attractive with lower fees. According to data from BitInfoCharts, Ethereum transaction fees averaged around $11 on December 19, while Bitcoin transaction fees are still higher at around $32. On the other hand, Solana’s fees are consistently less than $0.01, according to CoinCodex. Even Vitalik Buterin, one of the founders of Ethereum, has admitted that Ethereum will eventually “fail” unless trading fees become cheaper, especially during bull markets.

Meanwhile, Solana (SOL) bulls are quick to point out that SOL price has performed well compared to other cryptocurrencies, including Ethereum, especially over the past three months. In the past 24 hours, SOL has risen 12% to $83, according to CoinMarketCap. Other experts point out that Solana has outpaced Ethereum in trading volume across decentralized exchanges (DEXs), stablecoins, and non-fungible tokens (NFTs) in both 24-hour and 7-day intervals this week, with recent price movements pushing other People also point out that it has overtaken Ethereum. Some even speculate that Solana will one day overtake Ethereum. However, according to DefiLlama, Ethereum still has the highest total value locked (TVL) on the network at $28 billion, while Solana ranks fifth in TVL at $1.15 billion. Additionally, Ethereum’s market cap to TVL ratio (Mcap/TVL) is 9.4 compared to Solana’s 30.45. Mcap/TVL is a widely used indicator to measure the intrinsic value of a blockchain. Since Ethereum’s price is low, it can be assumed that it is undervalued (compared to Solana).