According to the Bitcoin obituary list, Bitcoin has died 15 times in 2022, and the last obituary written about Bitcoin’s death was on June 18, when a recent statement read ” Bitcoin will never recover.” Interestingly, the search phrase “bitcoin is dead,” is estimated to hit a record high this week, according to Google Trends data.
The old phrase “bitcoin is dead” is coming back to life
You may have heard the phrase “Bitcoin is dead” or something similar recently. While many believe that crypto assets are the future of money, there are a great many who truly believe that bitcoin is dead. The past two weeks have been dismal for bitcoin as the price has fallen to a low of $17,593 per unit.
Analysis firm Glassnode shows that the losses over the past three days have been huge.” The last three consecutive days have seen the largest USD-denominated Realized Loss in Bitcoin history,” Glassnode detailed. “The loss of more than $7.325Bof BTChas been anchored by investors using coins accumulated at higher prices.”
Meanwhile, two days ago,the Bitcoin Obituarieslist hosted at 99bitcoins.com shows that Bitcoin has recorded its 15th death this year. The obituary statement was written by gold bug and economist Peter Schiff via Twitter. Schiff has always considered bitcoin worthless, and he has stated on numerous occasions thatBTC‘s price has risen, with BTC’s price heading to zero. Schiff’srecent Bitcoin obituarycalled “Bitcoin will not recover” says the current crypto crash is just the beginning. Schiff’s obituary statement says:
Long-term bitcoin HOLDERS are not worried because they have experienced a 73% drop before. However, the previous drop was not anywhere near the market capitalization lost in this drop, nor did it involve massive leverage. This crash is just the beginning. Bitcoin will not recover.
Bitcoin Is Dead” Google searches estimated to rise significantly this week
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Bitcoin.com News recently reported that crypto supporters’ “need to sell bitcoin to pay bills reported on Schiff’s Bitcoin opinion last week stating that “the need to sell bitcoin to pay bills will only get worse as the recession deepens. “Google Trends data shows that searches for “bitcoin is dead” are so numerous that the GT data score for the phrase “bitcoin is dead” this week is.expected to hit an all-time high
The last time a search phrase reached a high in GT data was during the Terra blockchain fiasco, with the search phrase “bitcoin is dead” scoring 38 out of 100 for the week of May 8-14. So far, according to the Bitcoin Obituaries list hosted at 99bitcoins.com, the 2022 list beats 2020, 2012, 2011, and 2010.
There were about 47 obituaries in 2021 and only 14 in 2020. The lowest number of obituaries was in 2010, with one obituary, “Why Bitcoin Cannot Be a Currency,” published on December 15 of that year. According to the Bitcoin obituary list, Bitcoin has died 455 times.
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