The crypto community is falling into the most unstable psychological state, leading to the number of searches for the keyword “Bitcoin dead” has officially peaked.
The number of searches for the keyword “Bitcoin dead” reached the top trending of all time
The Bitcoin (BTC) price crash is reviving skepticism and speculation about the demise of the largest cryptocurrency in the market.
The greed and fear index is at 9, which is the extreme fear level.
Google searches for “Bitcoin dead” have spiked over the past week and are likely to hit an all-time high, according to Google Trends. According to Google’s keyword search ranking scale from 0 to 100, interest in Bitcoin has crossed the 100 mark. This is a 35% spike from the score of 74 recorded in June 2021. Moreover, searches for Bitcoin are often proportional to the volatility of the market, the more crisis people look to google to inquire about Bitcoin.
The amount of interest in Bitcoin has very clearly reflected the current market sentiment. Most users are extremely worried because the market is having to absorb too many sell-offs and a series of giants compete to cause loss of users’ assets. From the first domino, LUNA-UST created a wave of pressure on the whole scene. Coming to the Federal Reserve’s policy decisions, major industry players such as Celsius and Three Arrows Capital are facing insolvency and on the brink of default.
The mainstream media has written hundreds of thousands of “obituaries” to kill off Bitcoin over the years. Amidst the FUD, experts have repeatedly said that Bitcoin has returned to the stone age and gloated when the market was sick. Bitcoin is said to have “died” 45 times in 2021 alone, a year in which the digital asset hit multiple record highs.
The price line is still on a downward trend, but also thanks in part to FUD – a specialty of the downtrend season, which is constantly being released, so the interest in “Bitcoin” on Google Search has peaked in the past 12 months.
In particular, El Salvador – the country that is “swinging” on Bitcoin also leads in the ranking of countries “worried” about Bitcoin the most. The Netherlands is second with a score of 27, followed by Nigeria at 26, Switzerland is third at 22, tied with Turkey and Austria.
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