The terms “Bitcoin is dead” and “Bitcoin dead” have seen a rise in Google searches in recent days as sceptics assert that the leading cryptocurrency will never recover. Bitcoin has endured a terrible two weeks as its price fell below $19,000.

The leading cryptocurrency has passed away 455 times as of this writing, according to the list of Bitcoin obituaries on bitcoins4cards.com. BTC has already been declared dead 15 times in 2022, the most recent death announcement coming from Euro Pacific Bank owner Peter Schiff, who said, “Bitcoin will not return.”

Long-term Bitcoin #HOLDERS are unconcerned since they have already seen drops of 73%. However, neither did they include extremely high levels of leverage or anywhere close to the overall market value lost during this fall. This collision has just begun. “Bitcoin won’t bounce back,” Schiff tweeted.

Schiff believes that the fact that Bitcoin has recaptured the $20,000 perch is not caused for excitement.

Don’t get too enthused about #Bitcoin returning to the $20K mark. The new 30 is 20. Another bull trap, this is. Straight droplets are not present. This crash in slow motion has really been quite carefully planned. “No indication of the surrender that often marks the bottom of a bear market yet,” Schiff tweeted once more.

While several other cryptocurrencies showed improvement, Bitcoin was trading at over $21,000 at the time of writing, 11.57 am, India time, up over 6% in the previous 24 hours.

The two-day rebound in the price of bitcoin is mostly attributable to customers trying to purchase the cryptocurrency for less money. But according to BTC trade data, it is still going downhill.

Indian specialists in the cryptocurrency sector predict that if the present purchasing trend wanes, Bitcoin might drop as low as $17,000.

“Bitcoin increased its price for the second day in a row after regaining the US$20,000 milestone on Monday. In spite of the gains, BTC is still falling and has lost more than 22% of its value in the past week. BTC’s current resistance level is $22,000 USD; if purchasing power declines once again, BTC might revert to the $17,000 level, according to Edul Patel, CEO and Co-Founder of cryptocurrency investing platform Mudrex.

According to experts, the rebound of the previous two days cannot yet be characterized as a bullish trend since the cryptocurrency markets are still in a state of “severe panic.”

“Bitcoin rebounded by about 9% over the previous several days and surpassed $20,000.” The “severe fear zone” in the market attitude persisted. The market’s rebound over the past two days has increased the purchasing vigour. It is still too early to consider it a good trend reversal, contend specialists at WairX Trade Desk.

The BTC trend has established a falling channel pattern in the daily time period. At $14,000, Bitcoin’s next major support is anticipated to appear. “For the trend to be regarded as a positive turnaround, BTC has to maintain its velocity in excess of $30,000,” they noted.

Google Trends (GT) data shows that searches for “Bitcoin Is Dead” and “Bitcoin Dead” increased significantly when the cryptocurrency markets saw yet another major drop, only one month after the shock crash after the Terra (LUNA) crisis.

Bitcoin has been declared dead or written off several times in its brief lifetime. What the leading cryptocurrency’s future holds is still uncertain.

(In India, virtual currencies and other digital assets are not regulated. They are viewed as incredibly hazardous investments. A financial professional should be consulted before making any investment decisions.)

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