The search for the upcoming halving of Bitcoin (BTC) peaked until April 11th last week, although it is declining compared to this week.
These searches on Google can be projected using the Google Trends tool, which will scale your searches from 0 to 100 «Based on all searches on a topic».
According to Mike Alfred, CEO of Fintech and information company Digital Assets Data, this sudden surge in searches to halve Bitcoin is due to this “Increase in retail interest”.
This bitcoin halving process, which takes place every four years, halves the rewards of each block mined in the bitcoin blockchain. In this way, the supply rate halves every four years.
In this way, Bitcoin will experience its third halving event in the last few years of its third halving event next month, reducing the reward per block mined from the current 12.5 BTC to 6.25 BTC.
Effects on the price of bitcoin
One of the theories about halving Bitcoin is that this event leads to a bull market. Recently, Bitcoin has managed to cross the $ 7,000 mark it is currently in $ 7,204 at the time of this writing and have a very different value than last month when it was registered in $ 3,867 until March 13th.
However, halving does not mean a safe price increase in a bull market after the event. There are different opinions about the price of the cryptocurrency in the future.
To Matthew Dibb, co-founder and COO of Stack, in response to the CoinDesk portal earlier this month, he said:
The halving is likely to exert further upward pressure on the Bitcoin price in the next two months
On the other hand, the company is for cryptoactive analytics, Coin metrics, stated in his State of the Network report that Miner pressure to sell Bitcoin is expected to increase in the coming months.
Also keep looking «Buy Bitcoin» don’t have the same rebound after Google TrendsThis could indicate that retailers and people interested in halving only want to know about the event and they are not preparing to shop on the so-called digital gold before a possible price increase.
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