The previous high was recorded in December 2017, with a score of 93

Google’s number of searches for “bitcoin dead” hit new all-time high

21.06.2022 - 12:30

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2 min

What’s new? Between June 12 and 18, the search query for “bitcoin dead” scored a maximum number of scores (100/100), according to Google Trends. The previous record high was recorded in December 2017, with a score of 93. The data reflects investors’ extreme concern caused by the fall in cryptocurrency rates over the previous few weeks. The highest number of queries came from Canada, Nigeria, and Australia.

Google Trends data

What else were users interested in? The search query for “bitcoin” from June 12 to 18 also reached a high for the year (100/100). El Salvador, the Netherlands, and Nigeria were most interested in cryptocurrency. The situation is similar to the query “crypto winter.” Residents of Singapore, Canada, and the Netherlands showed the greatest interest in news on the topic of a possible prolonged downturn in the digital assets market.

What is going on with bitcoin? On June 18, the price of the first cryptocurrency fell below $20 000 for the first time since December 2020. In addition, for the first time in BTC history, its exchange rate fell below the previous cycle high. As of June 21, 12:30 UTC, the asset is trading at $20 925, having added 2,07% in price in 24 hours, according to the Binance exchange. The Fear and Greed Index (F&G) of the cryptocurrency market stands at 9/100, the figure is in a range that demonstrates “extreme fear” among investors.

According to the analytics firm Glassnode, bitcoin holders’ realized losses reached an all-time high of $7,3 billion. This figure reflects the difference in the value of buying digital assets and their subsequent sale on the chain. During the previous week, this figure exceeded $2,4 billion per day for three consecutive days.

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