Online searches for the term “bitcoin dead” have surged in recent days following one of the worst price crashes in the cryptocurrency’s history.

 

According to Google Trends, Google searches for the phrase “Bitcoin dead” hit their 2022 peak during the week of 12-18 June. Worldwide, the nations leading the “Bitcoin dead” searches were Canada, Nigeria, Australia, Singapore and the UK. The US came in sixth.

Why this change Google trend shows that the spike in searches coincides with bitcoin’s latest price capitulation, which saw it fall from above $30,000 at the start of June to below $20,000 this weekend.

Crypto is dead’

In the UK, searches for “crypto is dead” outstripped those for “Bitcoin dead” during the week of 12-18 June. The US and other countries worldwide showed different results, with “Bitcoin dead” reaching higher than “crypto is dead”.

The countries that were ranked highest for “crypto is dead” Google searches were Australia, Singapore, UK, Canada and Ireland.

The week of 12-18 June showed the all-time highest results for “crypto is dead” in the UK, US and worldwide.

Out of the US states, Utah, Oregon and Colorado came top for “crypto is dead” searches, while internet users in Utah, New Jersey and Colorado carried out the most “Bitcoin dead” searches.

Higher levels have been reached previously    

Google Trends data for the UK and worldwide show that the highest search level “Bitcoin dead” has ever reached was in December 2017. Google Trends data for the US state that the highest level for “Bitcoin dead” in the US was in March 2014.

However, December 2017 was the second highest search level for “Bitcoin dead” in the US, per Google Trends.

The trend, first spotted by trader Alex Krüger, follows pronouncements from prominent bitcoin skeptics like Peter Schiff that “bitcoin will not recover”.