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Internet users are wondering massively if Bitcoin is “dead” since its price fell below $20,000. According to a report, Google searches for the words “Bitcoin” and “Bitcoin dead” skyrocketed following the plunge in the value of cryptocurrencies.
According to Google Trends data, searches on the platform for the word “Bitcoin” this week reached their highest peak since May 2021. Something similar happens with the keywords “Bitcoin dead,” which did not reach a peak of such magnitude since February 2018, when the cryptocurrency also suffered a massive collapse.
An interesting fact about the first search is that most of the users who searched for the word “Bitcoin” in Google were from El Salvador, where the cryptocurrency was legalized for the first time in the world.
Another country where the crypto-asset is of great interest is Nigeria, which follows El Salvador in the search along with the Netherlands, Austria and Switzerland.
Regarding the search for “Bitcoin dead,” the top search interest came from Canada and Singapore, followed by Australia and the United States. Interestingly, Nigeria appears again on the list as one of the places where this search was performed the most after the Bitcoin crash.
This is not the first time that panic has flooded the cryptocurrency community due to such a drastic drop in prices. In fact, the website 99 Bitcoins is dedicated to compiling “obituaries” of all the times cryptoassets have been assumed to be “dead” because of their extreme volatility.
In the dozen years that the cryptocurrency has existed on the market, the website has compiled 455 obituaries and, so far, none of them have been right: Bitcoin has suffered drastic drops in the past and each time it has recovered.