Google searches for «Bitcoin

Google searches are often one of the best ways to measure retailers’ interest in cryptocurrencies. The halving of Bitcoin, planned for mid-May, was eagerly awaited, and as a result, interest in Google searches has grown rapidly.

Google Trends shows that the public is investigating Bitcoin’s halving event like never before. In fact, there are now more Google searches for “bitcoin halving” than before the last halving in 2016. This is a bullish signal as we are getting closer to halving the supply of new bitcoins.

Bitcoin halving
The Google search for “Bitcoin Halving” is increasing rapidly. (Source: Google Trends)

It is currently unclear whether Bitcoin buying activity will increase as we approach the halving event. Many analysts continue to claim that BTC miners can further tighten sales to close profits before the event. Morgan Creek Digital has predicted that Bitcoin will only reach a record high later, a perspective that is historically true.

Despite the increased interest in Google search, the recovery has not yet resulted in price or trading volume. Bitcoin’s RSI is currently at the lowest point before any other halving in its history. This may indicate that it is oversold.

Bitcoin price
Chart courtesy of TradingView.

The cryptocurrency market is not yet struggling with macroeconomic conditions. With the International Monetary Fund (IMF) now predicting a major recession due to the global blockade, retail investors may be less likely to invest their money in Bitcoin. The market-leading cryptocurrency also tends to follow the S&P 500, so traders should closely monitor key financial markets.

Halving is the most important event in the crypto space, but Bitcoin has never before experienced such a macroeconomic situation. It was born out of the financial crisis of 2008 and is now facing its first economic recession. The future therefore remains open to speculation and uncertainty.

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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information contained in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend and do not intend to provide sufficient information for a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those contained in the content of this article.


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