Bitcoin has narrowly avoided extinction at least 461 times, according to the media, meaning that the commodity has come dangerously close to being fully taken out of circulation and meeting its inevitable demise.
Currently, Bitcoin is stuck in the same bizarre bind from which it seems there is no way out. For starters, Bitcoin hasn’t had a Bullish cycle in what feels like months, and the cryptocurrency is seeing the worst conceivable price runs and negative element hawking its every move.
Bitcoin Has Difficulty Breaking the $20,000 Barrier
The culprits are rising inflation and the raise that has ripped the throat out of interest rates, as well as market corrections and the persistently gloomy market. It’s still tough going for Bitcoin and the rest of the cryptocurrency market to reach their respective $20K support levels.
It struggles to maintain its position above this resistance level, but is repeatedly brought down by negative cycles, corrections, or the market going berserk and releasing the value of crypto assets.
Bitcoin has been trending in online searches for a while now, and a survey’s worth of data shows that, ever since the asset began falling from its all-time high and couldn’t find any brace while rolling down the hill, the news media has pronounced Bitcoin dead a little over 461 times.
Google Search Trends, an online tool that tracks what’s trending and what people are interested in, reports that “Bitcoin is dead” has risen to the top of search queries and has stayed there for a while.
The media appears to have successfully seeded the public with the idea that Bitcoin, despite being the flagship cryptocurrency, is doomed to collapse and vanish into thin air because it is merely another monetary asset that might go to zero.