Interests in “Bitcoin halving” on Google have reached an all-time high, peaking significantly higher than the previous peak in 2020 according to forecasts.
The number of searches for ‘Bitcoin halving’ on Google has currently hit 45, based on trends data, with Google anticipating a surge that could bring the total up to 100 by the end of this month.
Google Trends notes that a value of 100 translates to “peak popularity” for the term.
The concept of a Bitcoin halving refers to the event where the amount of Bitcoin rewarded to miners gets cut in half. In 2020, the Bitcoin rewards will decrease from 6.25 Bitcoins to 3.125 Bitcoins per block mined.
The crypto halving is scheduled to take place approximately at 4 a.m. UTC on April 20th, according to the CryptoMoon timer.
The Bitcoin halving drew the greatest amount of attention from Nigeria, the Netherlands, Switzerland, and Cyprus according to Google Trends data.
The anticipation for Bitcoin‘s (BTC) upcoming halving event might not be new, given its impressive gains during the previous months.
In January, Bitcoin started out priced at $42,200. By May 13th, it had climbed an impressive 74% and reached a fresh peak price of $73,600, according to information from CoinMarketCap.
Bitcoin’s price has dropped significantly since mid-May, with prices currently around $61,078 – a 17% decrease from its peak.
In spite of pessimistic views from some investors, certain market analysts believe that Bitcoin may experience a notable price increase in the coming months based on past trends following its halving event.
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2024-04-18 04:38