Google searches for “Bitcoin dead” reach an all-time high
The crypto community’s attitude is at an all-time low, prompting new speculation that Bitcoin is on its way out.
According to Google search statistics, falling Bitcoin (BTC) prices are reigniting growing concern about the leading cryptocurrency’s collapse.
The number of Google searches for “Bitcoin dead” increased significantly in the week ending June 18, likely to an all-time high. Google Trends measures the frequency of search terms over time and gives a score from 1 to 100 based on the total number of user questions. The data has been anonymized, classified, and grouped by location.
Based on initial data, “Bitcoin Dead” received a score of 100 for the period June 12–18, as per data. The last time the search query got 100 was around December 2017.
Following weeks of persistent asset price selloffs, the Google search results suggest a high level of concern in the crypto market. The Federal Reserve’s major policy move, which has impacted negatively on risk assets, may have initiated Bitcoin’s downward spiral, which is now in its seventh month. The Terra ecosystem’s implosion and its associated contagion consequences have also played a role. Due to the current market conditions, genuine speculation has surfaced that significant market players such as Celsius and Three Arrows Capital are at risk of becoming insolvent.
Over the years, mainstream media sources have published hundreds of Bitcoin obituaries, with experts hailing the next market crash as proof that BTC is no longer a viable asset. Bitcoin is said to have “died” 45 times in 2021 alone, despite the digital asset setting many new highs.