The collapse of Bitcoin (BTC) prices is reviving renewed speculation about the demise of the leading cryptocurrency.according to Google search trends.
Google Trends tracks interest in search terms over time, assigning scores from 1 to 100 based on the total number of user queries. Data is anonymized, categorized by topic, and aggregated based on location.
Google searches for “bitcoin dead” hit all time highs over the weekend. pic.twitter.com/oDXNqGEeIL
— Alex Krüger (@krugermacro) June 20, 2022
Google searches for “bitcoin is dead” hit all-time highs over the weekend.
The “death of Bitcoin” reached a score of 100 in the period between June 12 and 18, according to preliminary data reflected in the dotted line. The last time the search query scored 100 was in December 2017 or thereabouts.
Google search results reflect a peak anxiety in cryptocurrency markets after weeks of incessant sales prices sales. Bitcoin’s downward spiral, now seven months old, may have been triggered by the Fed’s massive policy change, which has pushed risky assets lower.. The implosion of the Terra ecosystem and its corresponding infection effects have also been a factor that has contributed. Adverse market conditions have also led to credible speculation that major players in the sector, such as Celsius and Three Arrows Capital, are facing insolvency.
The main media have written hundreds of Bitcoin obituaries over the years; His experts have celebrated the last collapse of the market as proof that BTC is not a viable asset. Bitcoin reportedly “died” 45 times in 2021 alone, a year in which the digital asset hit multiple all-time highs.
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