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A few days ago bitcoin reached the Denial phase of the famous cycle, now it appears to be at a point of Fear and Desperation going into Panic.
Last year around this time, Bitcoin hovered at a value of more than US$1,000. Since then, the price has dropped as much as 65% and has not returned to the same levels. Many speculate that such price drops are early warning signs that Bitcoin is on the road to failure. The search giant Google contradicts this conclusion. According to a company email, Bitcoin searches have risen by 38% in the last few weeks.
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