BTC dead rumors high as Web3 overtakes google trends
In the middle of June, the number of Google searches for “Bitcoin is dead” has gone through the roof and is likely at its highest level ever. Google Trends keeps track of how popular specific search terms are over time by giving them a score between 1 and 100 based on how many people use them. The information is gathered, grouped by what it is about, and made anonymous. Then, they are put into groups based on where they are. People in the cryptocurrency world have started to pay less attention to Bitcoin as Web3 has become more popular (BTC). Know the connection between Bitcoin and economics? This clarifies several connections between Bitcoin and economics.
Investors and fans of cryptocurrencies need to use the Internet to keep up with all the changes that have happened in the past ten years. Some of these new ideas are apps that use the blockchain and tokens that can only be used once (NFTs). They need these things to show how they feel in the moment. “Bitcoin dead” has been searched for more than ever in the past few months. This could have happened because investors were scared at the time. After all, so many people were selling.
Because of the long-lasting bear market, Google trends for bitcoin worldwide are at their lowest point in more than a year. Since the bear market started, prices have never been this low. According to Google Trends, Web3 was more popular than ever in 2022. This means that most people used Web3 in 2022.
Is Bitcoin all done? Why do the prices of Bitcoin keep dropping?
There have been times when the price of Bitcoin went up, which gave investors hope that they might get their money back. The price of Bitcoin went through the roof after Vice President Joe Biden’s government called for a way to accept digital assets through executive orders. Recent news stories say that the government is also looking into the significant opportunities that big cryptocurrencies like Bitcoin now offer.
Some people liked the change because they thought it would help them earn more. But many other people sold all of their Bitcoin, which caused the value of cryptocurrencies to drop significantly. The system set up to deal with inflation hurt the price of BTC. When policies change, high-risk assets often lose a lot of value.
The same things caused Bitcoin’s value to drop, which scared investors. Experts have said that BTC investors should also be ready for the prices of all digital assets, including Bitcoin, to move around the prices of traditional assets. This is still true even if you don’t think about new rules or how investors feel. Part of this is the price of traditional assets.
Web3 Overtakes Google Trends
According to the most recent estimate, the rise in popularity of cryptocurrencies worldwide, which has led to more than 320 million active users, has made Web3 easier to use. On the same day the Nasscom Product Conclave was held in Bengaluru, Nasscom and Hashed Emergent released a report about the India Web3 Start-up Landscape.
Metaverses, blockchains, and tokens that can’t be changed are some of the ideas in Web3 (NFTs). Decentralized finance, or “DeFi,” and currencies that are not backed by the government power Web3 in India (also called “NFTs”). You can trade cryptocurrencies with blockchain technology, which is one thing you can do.
When the government lifted its ban on cryptocurrencies in 2020-21, many more Indians started to pay attention to Web3. When Ethereum first came out, from 2015 to 2017, there was a quick rise in interest. According to the research, start-up companies in the Web3 sector of the country no longer only trade bitcoins to speculate. Instead, they focus on Web3 solutions that can be used in the most important application domains. Only 29% of the available solutions can be used to buy and sell cryptocurrency tokens.
Based on the survey, there are now more than 450 Web3 start-ups in India, and as of Q12022, they have received investments totaling $1.3 billion. This number is likely to be more than $1 trillion in the next ten years.