In the present adverse market situation, which is defined by growing inflation, a rise in interest rates, and investor anxiety, Bitcoin (BTC) continues to raise questions as the flagship digital asset struggles to sustain support above the $20,000 price barrier.
According to statistics from 99Bitcoins, the cryptocurrency’s official obituary, Bitcoin has been referred to be “dead” 461 times in this sentence by different members of the media.
Despite all of this, records indicate that Bitcoin has been pronounced dead 21 times in 2022 as of September 5 in 2021, and BTC was declared dead 47 times.
According to Google Trends, a service that measures the popularity of search queries online, there is also evidence that the popularity of the search phrase “Bitcoin is dead” has decreased after reaching a peak on Google Search.
Since August 1, 2015, this is just the second time that ‘Bitcoin is dead’ has hit a score of 100, according to crypto trader Jackis. Each time the ‘Bitcoin is dead’ search has increased, the digital asset has seen a little price increase immediately after.
99Bitcoins has been considered recognized as the most reputable source for Bitcoin obituaries since its beginning in 2010 when it was first made accessible to the public. Before it can be considered an obituary, every death notification posted on the internet must meet the site’s exacting requirements.
The decision of whether or not to post an obituary on the website is based on a variety of specific criteria of Bitcoin being regarded as “dead.”
In addition to these requirements, the material in question must have originated from a person with a big audience or from a website that is often accessed by a considerable number of people.