Well According to Authenctic text of Mahabharata it is referenced that -
At the point when Ashwatthama shoots Brahmshira Astra on the Uttara's Womb at that point Lord Krishna Cursed him to be stay alive for a very long time -
The heavenly one stated, "The fall of this strong weapon won't be unproductive. The baby will bite the dust. Yet, being dead, it will live again and have a long life! As respects thyself, all insightful men know thee for a quitter and an evil heel! Continuously occupied with corrupt acts, thou workmanship the slayer of kids. Hence, thou must need to hold up under the product of these thy sins. For a very long time thou shalt meander over this world, without a friend and without having the option to converse with anybody. Alone and without anyone by thy side, thou shalt meander through different nations, O scalawag, thou shalt have no bearing amidst men. The smell of discharge and blood will radiate from thee, and blocked off timberlands and troubling fields will be thy habitation! Thou shalt meander over the Earth, O thou of wicked soul, with the heaviness of all infections on thee.
Ashwatthama is alive or not I don't have the foggiest idea but rather in the wake of Reading the content we can expect that He had been Cursed as a discipline for his awful deeds.
It can likewise be Possible that He is alive in light of Different Timeline in Dwapar yuga and Kaliyuga ?
As per Vishnu Puran he will be the following Ved Vyaas so it tends to be conceivable that he is alive and revile is discipline for his awful deed I think .