The Bitcoin (BTC) price recently hit a new 2022 low and plummeted below $18K.
According to data from Google Trends, searches for “Bitcoin dead” jumped significantly and hit a new all-time record over the weekend during one of the worst crypto market crashes in history.
One of the more significant market analysts Alex Krüger shared the news on his Twitter account:
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Google Trends is a tool that displays how many times a user has searched for a particular keyword while assigning scores of 1 to 100 based on the total amount of search inquiries. Thus, as dictated by the data, the keyword “Bitcoin dead” reached a score of 100 last week. In fact, such a significant score was only seen about 5 years ago.
In fact, this year, the search inquiry for "Bitcoin dead" saw a 35% spike from the score of 74 recorded in June 2021.
Moreover, during the past few years, media has been constantly making a big deal out of Bitcoin (BTC) price crashes, with “experts” indicating that the digital asset is slowly dying. In fact, last year, the cryptocurrency supposedly died 45 times, during the period when BTC reached historical highs and was estimated at over $68K.
However, it is clear that the past few months have been rough on Bitcoin (BTC). On top of that, the recent collapse of decentralized finance (DeFI) and the current liquidity crisis have contributed greatly to the BTC price as it hit a new 2022 low and dropped under $18,000.
Furthermore, the current crypto bear market has caused a number of crypto-related companies to take drastic actions. For instance, earlier in June, a major crypto lending platform Celsius shut down withdrawals and transfers between accounts, whereas another crypto yield generator Finblox recently reduced daily and monthly withdrawals to $500 and $1.5K, respectively.
On the other hand, some organizations see the supposedly approaching crypto winter as an opportunity to find dedicated talents, including Binance, which will reportedly welcome around 2000 new employees to the company.