I do not really see "used to rank #1" as relevant to Google? Just because something "used to be" does not mean it necessarily needs to be that way forever. Enjoy what has been and work towards making tomorrow just as glorious!
Maybe you suddenly got competition in a field where you were previously almost alone, or maybe competition geared up and got more in-links than you?
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The truth is not affected by the beliefs, or doubts, of the majority.
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