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Google searches for “Bitcoin going to zero” have surged to their highest level since the post‑FTX panic in November 2022, according to Google Trends data for the past five years. 
The spike aligns with Bitcoin’s latest drawdown from its Oct. 6, 2025, all‑time high near $126,000 to about $66,500 at the time of writing on Thursday, according to data from CoinGecko, leaving the asset almost 50% below its peak. 
At the same time, the Bitcoin Fear and Greed Index has plunged into extreme fear around 9, levels previously seen during the Terra ecosystem collapse and the FTX fallout in 2022.
Google Trends shows that worldwide interest in the phrase “Bitcoin going to zero” last hit comparable levels in early November 2022, when FTX froze withdrawals, and Bitcoin crashed to around $15,000. 

Today’s Bitcoin fears different from 2022
Crypto intelligence platform Perception analyzed narrative intelligence across 650+ crypto media sources and shared its findings with Cointelegraph. 
Founder Fernando Nikolic said that fear in 2022 was driven by internal events, such as cascading failures of centralized lenders and one of the industry’s largest exchanges, while today’s fear is “driven by macro fears and being amplified by a single bearish voice.”
Nikolic said that Bloomberg’s Mike McGlone has been the loudest single voice driving the “Bitcoin could go to zero (or near-zero)” narrative, and that he has been a “one-man content machine this cycle,” calling Bitcoin to $10,000 on Feb. 3, saying markets were headed for a 2008-style crash and continuously calling for Bitcoin’s decline throughout the past month.
He told Cointelegraph that McGlone is repeatedly amplified by crypto media sites and has “essentially been the go-to bearish quote for the past three weeks.” “This media saturation likely contributes directly to the Google search spike,” he said.
Retail fear lags professional media sentiment 
Nikolic said that the actual counterpoint that “nobody is synthesizing” is that, while “Bitcoin to zero” searches are spiking, institutional buyers are accumulating more BTC, pointing to the fact that sovereign wealth funds, such as Abu Dhabi, are increasing their Bitcoin exchange-traded fund holdings, and large corporations like Strategy continue to stack BTC.
According to Perception data, he said, media sentiment bottomed on Feb. 5, but has been recovering for two weeks, while Google “Bitcoin going to zero” searches are peaking now in mid-February.
Related: Willy Woo warns quantum risk is eroding Bitcoin’s edge over gold
Retail fear lags professional media sentiment by about 10-14 days, he said. “By the time the public is most scared, the professional narrative has already started to stabilize. The retail narrative and institutional behavior are moving in opposite directions.”

Research underpinning the index finds that spikes in global uncertainty tend to precede weaker output and slower growth as companies delay investment and hiring. 
Quantum fears have also been a persistent background narrative since October 2025, according to Nikolic, but he said that quantum fear spikes alongside price drops, not independently. 
“Bitcoin quantum” searches peaked in November 2025 and have been falling steadily since, according to Google Trends.
“It’s an amplifier of existing bearish sentiment, not a standalone driver. The “Bitcoin going to zero” search trend is likely a composite of price-crash fear + quantum existential fear + McGlone-style macro doom, all converging in the same window.”

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Bitcoin has recorded losses for about five consecutive weeks after a momentary upsurge at the beginning of the year. The cryptocurrency reversed after an initial rally to $97,939 in the second week of January 2026. Since then, BTC has declined nearly 40%, bounced off support, and is trading at $66,935 as of writing, according to TradingView’s data.
Despite Bitcoin’s recent struggles, many analysts, particularly the crypto asset’s supporters, believe the bullish trend will return. One such supporter is Donald Trump’s pro-crypto son, Eric Trump, who recently stated his belief that Bitcoin will rally to $1 million.
We asked AI solutions ChatGPT, Claude, and Grok about their opinions on the predictions of Bitcoin reaching $1 million and got the following responses:
ChatGPT
ChatGPT agrees with Trump’s prediction, but added the caveat that such a rally is not guaranteed. The AI solution provided reasons for aligning with Trump, including Bitcoin’s fundamental economics of rising demand amid fixed supply. According to ChatGPT, BTC can reach the $1 million target as early as 2027 if the industry experiences heavy institutional accumulation and very low selling.
Notably, Bitcoin’s market cap will need to swell significantly for the cryptocurrency to achieve the $1 million dream. Beyond broad institutional investment, ChatGPT cited large holdings by governments or sovereign reserves and a high proportion of global wealth allocated to Bitcoin as the potential drivers for the million-dollar BTC dream.
Claude
According to Claude AI, Bitcoin can reach the $1 million. However, the main debate revolves around how soon it can happen. The AI solution analyzed Bitcoin’s historical performance, citing its rise from $0 to over $100,000 in less than 15 years as a yardstick to measure the cryptocurrency’s behavior.
However, Claude noted that long-term projections suggest Bitcoin could reach between $1.4 million and $2.1 million by 2050. Meanwhile, more optimistic analysts project a shorter timeframe, targeting the mid-2030s for Bitcoin to reach the much-talked-about milestone.
Grok
Grok was affirmative in its response to the question of whether BTC can reach the $1 million target. According to Grok, Bitcoin can realistically hit $1 million, though the timeline, probability, and exact conditions remain heavily debated. 
The AI solution highlighted that it would take approximately a 15x increase from current levels for Bitcoin to achieve this feat, potentially pushing the digital asset’s market cap from roughly $1.3-$1.4 trillion to about $21 trillion. Grok noted that many prominent voices have gone beyond arguing whether Bitcoin can reach $1 million to debating that it could happen over the coming years.
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