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Bitcoin Halving Explained Simple – Does it Affect Bitcoin’s Price?

Interest in Bitcoin halving is not ...

Interest in Bitcoin halving continues unabated, judging by Google searches
CONTENT

  • Bitcoin halving hits record highs.

  • Interest in the upcoming halving is much higher than in the previous halving of 2016.

  • Meanwhile, Google searches for Bitcoin itself remain at relatively low levels..

International consortium of news organizations developing transparency standards.

On the verge of the third halving of bitcoin, the number of searches on this topic in Google has not diminished throughout April, which is clearly demonstrated by Google Trends data.

Interest in Bitcoin halving is not ...

However, at the same time, search queries on the topic of the BTC cryptocurrency itself dropped significantly compared to the peak of interest in Bitcoin during its dizzying rally to historical highs. This means that new investors, who at the end of 2017 raised the MTC rate to almost $ 20,000, are now not showing much interest in it..

Halving worries more and more minds

As BeInCrypto reported this month, the number of searches on Google on the topic of Bitcoin halving has broken previous records set during the previous halving in 2016..

This significant event for the Bitcoin network should happen, according to experts, on May 11. On the eve of it, among the participants of the crypto community, disputes do not subside as to how this time halving will affect the MTC course.

As you can see from the above graph, interest in halving from search engine users has been steadily growing over the past month or two. At current levels, the number of inquiries on this topic continues to hold close to its all-time high, reached quite recently..

Interest in Bitcoin halving is not ...

For comparison, you can look at the situation with search queries about “halving” Bitcoin halving reduces the number of new coins created and earned by miners in half. This happens about every four years and … More bitcoin “in 2016. Then the indicator also showed a steady increase for several months before the halving, updating the current historical maximum along the way. In the week of the halving itself, another powerful jump in the number of requests was noted.

Judging by the fact that this year this indicator has already surpassed the statistics of 2016 many times, now the general public is showing even greater interest in this event. After the previous halving, Bitcoin staged a long and aggressive bull run, which eventually allowed the currency to almost reach the $ 20,000 mark. Everyone is interested in whether the historical parallels will work this time and where the BTC rate may be.

Interest or just curiosity?

However, not everything is so simple. Google statistics reflect the growing interest in halving, but not in bitcoin itself. The number of requests on the topic of the world’s first cryptocurrency continues to stay far from the previous maximum values.

This may serve as an indication that the interest of potential investors in Bitcoin is at a low level. A much more positive signal for the cryptoindustry would be the news of an increase in the number of searches with the wording “buy bitcoin”. This could serve as an indication of a possible influx of new investors into the industry..

According to a number of participants in the crypto community, a new surge of interest in bitcoin should be expected only after the currency manages to absorb the previous historical maximum and overcome the $ 20,000 mark. Of course, such price dynamics will interest people much more than news about halving.

Do you think that search activity on Google is correlated with bitcoin price? Share your opinion in the comments!

Interest in Bitcoin halving is not ...

Image courtesy of Google Trends

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