The cryptocurrency neighborhood has unleashed a torrent of mockery and defiance towards the Monetary Occasions following the publication of a scathing opinion piece declaring that Bitcoin is successfully nugatory.
The article, penned by FT columnist Jemima Kelly and titled “Bitcoin continues to be about $70,000 too excessive,” argues that the main cryptocurrency is destined to hit zero.
Kelly compares Bitcoin holders to the protagonist of the French movie La Haine, a person falling from a skyscraper who comforts himself on the best way down by repeating “to date, so good,” earlier than inevitably splattering on the bottom.
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The ‘backside sign’
For veteran market contributors, mainstream media declaring Bitcoin “lifeless” is commonly interpreted as a contrarian indicator that the underside is in.
“NOW we will confidently say Bitcoin’s backside has been reached. When outdated, incompetent, conceited media begin posting…is when Bitcoin begins flying,” a consumer wrote on X.
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The sentiment was echoed by different trade commentators. “The FT calling Bitcoin lifeless? Very bullish,” he acknowledged.
Different reactions have been extra visceral, concentrating on the Monetary Occasions’ declining affect and relevance within the digital age.
Person Bram Kanstein mocked the publication’s incapability to understand the asset class, sarcastically cheering them on: “Fading probably the most profound technological discovery of your trade, nicely executed!!”
Others expressed disbelief that such hardline skepticism nonetheless exists in 2026, writing, “I am unable to imagine folks nonetheless write issues like this.”