Predicted data indicates that the interest in the "Bitcoin halving" on Google has increased to an all-time high, more than twice that of the last halving in 2020.
As per Google Trends data, the search interest for the term "Bitcoin halving" has already hit a score of 45. Google predicts that by the end of this month, the keyword will reach an anticipated score of 100.
According to Google Trends, "peak popularity" for the phrase is represented by a value of 100.
When the rewards given to miners are cut in half, it's referred to as the Bitcoin halving. The Bitcoin halving of this year will result in block rewards of 3.125 BTC instead of 6.25 BTC.
As of right now, the halving is scheduled for April 20 at roughly 4am UTC. According to Google Trends, Nigeria, the Netherlands, Switzerland, and Cyprus exhibited the highest level of interest in the Bitcoin halving.
Record levels of curiosity in the halving event are maybe not surprising given the recent BTC stellar performance of Bitcoin.
According to CoinMarketCap data, the price of bitcoin started the year at $42,200 and surged 74% to hit a new all-time high of $73,600 on May 13.
Since then, the price of bitcoin has cooled off and has been steadily declining since mid-May. As of this writing, Bitcoin is trading at $61,078; this is 17% less than its peak.
Even though market participants' morale has soured, a number of market analysts have said that Bitcoin might see a sizable rally in the months that follow the halving based on historical price action trends.
April 2024, Cryptoniteuae