Today ‘Bitcoin Crash’ is trending per the current status of the current market bear market. In 2021, the word “crypto” trended all over the internet as the crypto market was generally flourishing and was Google’s most searched word.
However, now it appears that the good fortunes of digital coins havee waned as cryptos have slipped into a serious bear market. Bloomberg recently reported that while the short-term investors wasted no time in dumping their holdings, even the old-timers are now exiting the scene.
The most recent Bitcoin (BTC) crash saw the asset’s price go as low as $17,000, its lowest price since late 2020. Reflecting the general air of uncertainty among investors in the cryptocurrency market, “Bitcoin is Dead” is beginning to trend once again, at least, according to the data from Google Trends.
But, while downturns may generally be a part of crypto markets, things continue to look bleak for crypto.
Bitcoin has slipped nearly 70% from its November record high, but it all started in March when CNBC reported that the Federal Reserve approved its first rate hike in three years. That singular act went on to be a major turning point, putting downward pressure on risk assets like Bitcoin. Meanwhile, a series of other events soon followed that also impacted the crash of Bitcoin, including Russia’s invasion of Ukraine and the Terra crash.
Bitcoin has been written off as dead at least 458 times in the past. But each of those times, it has managed to come back to life.
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