The Google Trends analytics tool shows that the phrase “crypto is dead” has soared to a historical record (index 100). This number of queries has never been seen before in the history of cryptocurrencies.
On the historical graph for 5 years we see 3 periods when “crypto is dead” was in trends (red arrows). All of them coincided with deep drops in the exchange rate of VTC – December 2018, April 2021 and May 2022.
That is, the growing interest in the phrase “crypto is dead” signals an extremely negative sentiment in the crypto market. But in the long term, this indicator can be interpreted as a signal for a reversal.
Investor pessimism is confirmed by the Fear and Greed Index, which is now at a three-year low. The Crypto Fear and Greed Index fell to 6 over the weekend, but has now risen to 11 points (extreme fear).
Historically, the lowest Fear Index was at 5 in August 2019.