Bitcoin has died 15 times in 2022, according to statistics, with the last obituary on the death of Bitcoin on June 18.
Financial and economist Peter Schiff tweeted about the Bitcoin obituary that Bitcoin will not recover. Interestingly, Google search data shows that bitcoin is dead hit a new all-time high this week, and bitcoin has died 455 times.
The past two weeks have been scary for Bitcoin as the price fell to $17,593. The past three days have been the largest realized losses in dollar terms in Bitcoin’s history, according to analytics firm Glassnode.
Schiff, who has long believed that Bitcoin is worthless, has repeatedly stated that the price of BTC will go to zero. Peter Schiff’s recent Bitcoin obituary, in the name of Bitcoin’s inability to recover, claims that the current cryptocurrency crash is just the beginning: Long-term holders of Bitcoin are not worried, as they have experienced a 73% drop before. But previous declines did not contribute to the total market capitalization lost during this crash, nor did they involve huge leverage. The crash has only just begun. Bitcoin will not recover
Bitcoin is Dead, Google Searches Rise Significantly This Week
Google data shows that key searches for Bitcoin is dead have been hot recently, with the GT data score for the phrase Bitcoin dead alone expected to hit an all-time high this week.
The last time GT data showed that the trending search reached its highest value was during the week of May 8-14 during the Terra crash, and Bitcoin was dead at 38 points out of 100. So far, the 2022 list beats 2020, 2012, 2011 and 2010, according to the list of Bitcoin obituaries hosted on 99bitcoins.com.
This shows that the market is currently not optimistic about Bitcoin, but on the other hand, Bitcoin has experienced many troughs, and this is nothing new for old investors. If there is no fundamental change in the Bitcoin market, after the trough, hot money seeking short-term profits will flood in like crazy. For investors with low-risk appetite, investing in mining machines is a good choice
Post time: Aug-15-2022