Is Bitcoin Dead?

Is Bitcoin Dead?

User searches through Google have increased in recent days for the encryption sector. So we can search so often to find: is bitcoin dead? Will its price rise again? So many questions investors are asking.

Concerned investors

This is not the first time the crypto market has been in trouble, though this time is over the fall is brutal. With an unprecedented loss (just a few months ago the price of Bitcoin was around $ 60,000), the world of cryptocurrencies is in full swing.

Outside of information-seeking investors, many people are curious and also seek information on the subject. So this explains why such a search has been done frequently on Google in the last few days.

Those who have been in the crypto business for many years and invest long term, are used to such events. However, it is still a historical accident Both Bitcoin, other crypto-currencies and so on globally affect the entire market which has lost more than 50% of its total value in recent weeks.

Euro Pacific Bank owner Peter Schiff predicted that this time bitcoin would not do it. He tweeted last June 18 that the BTC crash was just beginning. In fact, some investors believe that Bitcoin could make up to $ 14,000 very soon, or worse!

Vulnerable market

Peter Schiff took to Twitter again after a small Bitcoin rally of over $ 20,000 over the past two days (more precisely to $ 21,151 as of this writing) and other altcoins suggesting he should not be mistaken.

This positive gain is possible thanks to many investors who benefits from buying it, because they believe in long – term profits. However, the BTC chart is still showing weakness.

Crypto-currency experts suggest that Bitcoin could fall below $ 17,000 at any time if this effort to invest (and thus buy) weakens. Some people in the crypto world are of the same opinion. This is fragile market we are facing and this is due to various accumulated reasons.

Overall, investors remain relatively anxious. Especially those who have been in this business for a few months and don’t have that much experience. It’s easier to sell them to avoid any risk other than maintaining their positions.

Crypto-assets are a risky investment.

Too early to predict the next few days

While Bitcoin seems to be on the rise, it’s too early to tell whether it will continue in this direction. The next resistance is $ 14,000 if the asset fails again. Otherwise, in order to return to a positive market position, it would be necessary to cross the $ 30,000 mark again.

It’s too early to know what’s going to happen in the coming days and weeks. Each scenario is feasible depending on investor purchases and sales, but also on the various factors influencing the crypto market.

Google Trends data suggests that searches such as “Bitcoin is dead” and “Bitcoin is dead” were highly regarded between 12 and 18 June. That is to say the period when a massive crash of Bitcoin and altcoins occurred, ie months after the crash of Terra (LUNA).

Bitcoin’s death has been widely announced in the past and yet it came as no surprise until it reached an all – time high of over $ 60,000 in 2021. Will blockers of this encryption get the best of it? us? We need to be patient and carefully follow the evolution of the market to start a response.

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