By Hassan Mehmood (Saudi Arabia)
There have been one too many close calls with Bitcoin in the past, which means that the asset has come so much closer to being completely going out of circulation and meeting its eventual doom and has dodged this eventuality so many times, according to the media about 461 times to be exact.
At present, Bitcoin once again finds itself in this odd pickle from where there is no escape. To begin with, the cryptocurrency is experiencing the worst possible price runs and bearish element hawking its every move that potentially it has been months since Bitcoin even ran into one of the Bullish cycles out there.
Bitcoin Struggles to Move Above $20k
Rising inflation and the hike that has taken the interest rates from the throat are to blame, along with market corrections and the consistently pertaining bearish market. The cryptocurrency is still struggling to keep to its support level, which is somewhere at $20K, but Bitcoin, as the flagship cryptocurrency, is having a harsh time getting there.
Also read:It tries its best to stay above this resistance level but is then knocked down consistently with a bearish cycle or, worse yet, corrections or the market going all crazy and venting out the value of the crypto assets.
Bitcoin has hit the search trends for the past few months, and the data from a survey points out that the news media has declared Bitcoin dead a little over 461 times since the asset started plummeting from its all-time high and couldn’t find any brace while rolling down the hill.
Other than that, Google Search Trends, which is an online tool that monitors the elements that are presently wild out there and of interest to people, has said that ‘Bitcoin is dead’ has become the top search query, and it has maintained its position for the past couple of months.
It seems that the press has successfully initiated a notion among the commonwealth that Bitcoin, despite being the flagship cryptocurrency, has the tendency to fall out and fail to exist as it is just another monetary asset that could potentially go down to zero.
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