Emre Yumlu 
The recent sharp decline in Bitcoin’s price has once again ignited heated discussions across the crypto market. As “Bitcoin is dead” claims resurfaced on social media, Bloomberg senior ETF analyst Eric Balchunas offered a pointed response. According to Balchunas, pessimistic declarations about Bitcoin’s demise have appeared many times throughout its history, yet the asset has continuously rebounded and gone on to reach new all-time highs.
A Historical Bitcoin Pattern: Major Corrections Followed by New Highs
Balchunas notes that the current pullback is not extraordinary when viewed within Bitcoin’s nearly fifteen-year price history. The asset has gone through far deeper corrections in the past, each of which was followed by a remarkable recovery and the establishment of new records.
For this reason, the analyst argues that Bitcoin shares a similar long-term trajectory with technology giants such as Apple and Amazon, both of which have delivered sustained returns despite periods of significant volatility. In his assessment, the present downturn should be interpreted as another chapter in Bitcoin’s broader resilience narrative rather than a sign of structural weakness.
The Unease of Traditional Finance: “Irritating the Right People”
Balchunas also highlights Bitcoin’s long-standing ability to disrupt and unsettle traditional economic and financial circles. One of the asset’s most distinctive traits, he suggests, is its capacity to challenge the status quo and “irritate the right people” over time. This disruptive quality, he argues, has been a key component of Bitcoin’s appeal and a major reason why it continues to attract strong interest among both retail and institutional investors.
High Volatility Comes With a Warning
Despite his generally supportive stance, Balchunas cautions investors not to overlook Bitcoin’s inherently volatile nature. He compares this volatility to a “hot sauce effect”—a characteristic that can enhance the experience in small amounts but becomes overwhelming in excess. For this reason, he emphasizes the importance of evaluating risk tolerance carefully and maintaining a balanced approach when allocating capital to Bitcoin or other highly volatile assets.
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