With the onset of the crypto winter, skepticism and criticism of digital assets has resurfaced and despite the market gradually recovering, skepticism and criticism remain. Many forums and social networks have gone on about the issue for a long time, with the participants calling for states to ban cryptocurrencies. Others, to a lesser extent, have strongly called for stricter regulation of the industry. In this context, the Google engine recorded a spike in searches on the question “Is Bitcoin (BTC) dead? ». Decryption.
Bitcoin is not dead yet
According to data from Google Trends, the analytical tool of the world’s largest search engine, after BTC fell below $18,000, online searches on the question “Is Bitcoin Dead” reached the highest record.
A question that arises in the same way as the appearance of some bad news for the crypto world, such as the collapse of the Terra ecosystem (LUNA), Coinbase’s difficulties with American justice, the freezing of the funds of the lender of cryptos Celsius, Three Arrows. Capital with its liquidity problems, etc.
This is not the first time that this type of research has peaked on Google. The first spike in research on this issue came in December 2018, amid a strong bearish market. The second occurred during a sharp decline in the price of bitcoin from the previous ATH of $64,900 in April 2021. The third occurred in early May 2022, when the sign it broke the support at $38,000 and fell to the $27,000 level.
The latest spike in searches has reportedly reached an all-time high.
For the record, at the height of the recent bitcoin price crash, Berkshire VP Charlie Munger’s quote that BTC is likely to go to zero had many skeptics on social media.
It’s clear that the bitcoin market is facing a lot of volatility, but that can’t drag it to the end, analysts say. As part of its recent brutal descent, BTC has lost some feathers, but it is gradually coming back to life.
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and share my pen knowledge related to this ecosystem.
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