Bitcoin is up 170% since the ECB called its ‘last gasp’ at $16.4K

Bitcoin completely contradicts what the European Central Bank warned about in late 2022.

Bitcoin (BTC) has gained almost 170% since the European Central Bank (ECB) warned of its impending “irrelevance.”

As noted by crypto proponent Eric Wall and others on Dec.

ECB Bitcoin myopia: “What else are they wrong about?”

Bitcoin traded at just $16,400 when, on Nov. 30, 2022, the ECB published a blog post dedicated to its death.

Coming just after the implosion of the FTX exchange and subsequent market flight, the post argued that even those levels were a stopping point on the way to new lows.

“The value of bitcoin peaked at USD 69,000 in November 2021 before falling to USD 17,000 by mid-June 2022.

“For bitcoin proponents, the seeming stabilization signals a breather on the way to new heights.

This “last gasp” initially continued to play out.

A year after the ECB’s premature obituary, Bitcoin is at its highest since April 2022, sitting at $43,800 at the time of writing, or 166% higher than when the bank sounded the alarm, per data from Cointelegraph Markets Pro and TradingView.

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