Google trends shows that ‘is Bitcoin dead’ is trending. Is this a bottom signal?

Google Trends is a section of the Google website where you can see what’s currently trending in global internet searches. Judging by this week’s news, that was likely the arrest of (former) Prince Andrew in the UK and the Winter Olympics in Italy. Also trending is the question whether Bitcoin is dead. The answer is of course no, but the fact that so many are searching for the answer is actually quite interesting.

Panic

When others panic, be prepared to invest, goes the old stock market adage (as per Warren Buffett). Judging by these words, the very low score on the fear and greed index, and the fact that Bitcoin’s death is a trending topic online, we can conclude that panic among Bitcoin investors (and certainly among those who invested above $100,000) is currently very high.

Does this mean we’ve seen the end of the decline? It’s actually too early to conclude, but judging by expert Peter Brandt’s calculations from a few weeks ago (when he predicted a low of $58,000), it might be correct.

The stock markets are still doing quite well, and the dollar also seems to be recovering somewhat. Who knows, maybe the start of spring will also be the start of a new spring for Bitcoin.