The number of search queries about Bitcoin’s demise has returned to its maximums against the backdrop of a crash in the price of the first cryptocurrency.

For the week ending June 18, the query bitcoin is dead (“bitcoin is dead”) scored 93 on Google Trends. This is just one point less than the maximum recorded in December 2017.

Leading countries: Canada, Singapore and Australia. They have been surpassed by the much larger populations of the United States and Nigeria.

In the Russian-speaking segment of the Internet, the demand for “bitcoin collapse” has also grown in popularity. However, the indicator for the week was almost twice behind the period from January 28 to February 3, 2018 – 53 points against a maximum of 100.

On June 13, the price of the first cryptocurrency dropped below $23,000. At the same time, major crypto lending platform Celsius Network has suspended withdrawals, swaps and transfers between accounts “due to extreme market conditions”.

Reports of a possible bankruptcy of the Three Arrows Capital hedge fund followed. The company’s co-founder, Su Zhu, did not directly confirm the rumors, but stated that they “fixed the issues.”

Babel Finance, one of the largest crypto lenders in Asia, also announced the suspension of payments and withdrawals.

On June 18, Bitcoin prices failed to exceed the $20,000 level.

Despite the rise in popularity of pessimistic demands regarding the cryptocurrency, they are an order of magnitude lower than users’ interest in the asset. The “Bitcoin crash” indicator tends to be zero based on the scores for the “Bitcoin rate” query. The popularity of the latter peaked in May 2021 amid falling prices.

Recall that in November 2021, the Bitcoin exchange rate reached a maximum of $ 69,000.

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