Bitcoin and leading cryptocurrency prices have taken a major hit over the last couple of days. As you might expect, there are no shortage of volunteers to deliver its last rites given the recent volatility.
Over the last 24 hours, Bitcoin has shed around $14 billion from its total market capitalization. This has brought the price down to around $7,180 at the time of writing.
![](https://beincrypto.com/wp-content/uploads/2019/11/total-market-capitalizat-1-750x375.jpeg.optimal.jpeg)
Typically, as in the above case, those most eager to write Bitcoin off after violent moves to the downside are those with closest connections to the existing financial system. Dow has also been a consistent critic of the cryptocurrency himself over the years. In 2013, he tweeted:#Bitcoin is dying.
— Dow (@mark_dow) November 21, 2019
Bitcoin’s history is littered with so-called “Bitcoin Obituaries.” In fact, they have become so common that 99Bitcoins hosts a page dedicated to them. So far, Bitcoin has apparently been on death’s door (or through it) a total of 377 times. There has been at least one news article published on the cryptocurrency’s demise every year since 2010. The latest listed on the site was delivered by US entrepreneur and investor Jim Rogers via Portfolio Wealth Global’s YouTube channel. No doubt, there will be more in the works given the recent Bitcoin volatility. Yet, despite the number of deaths that have punctuated its short life, Bitcoin remains. It still functions as it did yesterday, last week, or last year. People used it and will continue to use it at much lower prices than it has recently fallen to.Gold is a tax on stupidity. Bitcoin is a tax on paranoid stupidity $GLD
— Dow (@mark_dow) April 12, 2013
![Bitcoin](https://beincrypto.com/wp-content/uploads/2019/11/gold-colored-bitcoin-on-railroad-1099296.jpg.optimal.jpg)
Images are courtesy of Twitter, Shutterstock.
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Rick D.
A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time in 2016, he put a growing passion for Bitcoin to work for him. He has since written for a number of digital asset publications.
A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time in 2016, he put a growing passion for Bitcoin to work for him. He has since written for a number of digital asset publications.
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