With the onset of the crypto winter, skepticism and criticism towards digital assets has resurfaced and despite the market gradually recovering, doubts and criticisms persist. Many forums and social networks have gone on about the issue at length, with participants calling for states to ban cryptos. Others, less vehement, have strongly called for stricter regulation of the industry. In this context, the Google engine recorded a spike in searches on the issue “Is Bitcoin (BTC) dead? ». Decryption.
Bitcoin is not dead yet
According to data from Google Trends, the analysis tool of the world’s largest search engine, after BTC fell below $18,000, online searches on the issue “Is Bitcoin Dead” reached a record high.
A question that arises in the same vein as the appearance of several bad news for the crypto world, such as the collapse of the Terra (LUNA) ecosystem, Coinbase’s difficulties with American justice, the freezing of the lender’s funds of Celsius cryptos, Three Arrows Capital with its liquidity problems, etc.
This is not the first time that this kind of research has peaked on Google. The first spike in research on this issue appeared in December 2018, amid a strong bear market. The second occurred during bitcoin’s sharp decline in price from the previous ATH of $64,900 in April 2021. The third occurred in early May 2022, when the token broke the support at $38,000 and fell to the $27,000 level.
The latest spike in searches was reported to have hit 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 was heavily echoed on social media by many skeptics. .
It is clear that the bitcoin market is facing major volatility, but that cannot drag it to its end, analysts say. As part of its recent brutal descent, BTC has lost some feathers, but is gradually regaining color.
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