There is growing interest in halving Bitcoin (BTC), the number one cryptocurrency market value. In fact, the recent search interest for halving has reached the highest point in history, even exceeding the search volume of Bitcoin.
The third bitcoin mining reward halving is about to happen in less than a month, and compared with 2016 before the second halving, there is no doubt that bitcoin is more famous worldwide. However, according to Google Trends data, it seems that people who already know what Bitcoin is are still looking for more information about the halving.
As Google Trends shows, if we think that the peak search interest in Bitcoin-related terms is 100, we can compare related search keywords and compare their effectiveness. When comparing “ bitcoin halving ” and “ bitcoin price ”-people will think that this is the most important term, we found that bitcoin halving slowly increased from the value 3 at the end of 2018 to 6 in 2019 The monthly climb to 16 sharply increased in December 2019, reaching 50 in March, and then further increased to 100 in April. At the same time, in contrast, the search for “Bitcoin Price” is still stagnant, with a value less than 1.
When comparing “bitcoin halving” with another important term-“bitcoin”, we will see a similar situation. The former soared to 100, while the latter hovered around 2-3. Looking closely at the past 12 months (instead of ten years), we see that the “bitcoin halving” has gradually increased from December 2019, and sharply increased in the last week of March. In addition, during the market rebound in 2017, interest in halving was stronger than in Bitcoin, when BTC reached $ 20,000.
At the same time, the previous historical high was 75 in the first week of July 2016, while the previous bitcoin halving was on July 9, 2016. However, the difference between then and now is that the interest that led to the halving started more months ago than it was four years ago (about 6 months to about 3 months).
Crane research firm Arcane Research also noticed this increase in interest, and Arcane Crypto CEO Jenssen tweeted (before this peak exceeded 2016): “The peak was higher in 2016, but it was short-lived . The current search volume is more stable. ”
At the same time, trader and economist Alex Krüger commented that it is possible to predict the halving based on limited data, which has only occurred twice Coins are halved, and there are usually few others who can provide unique insights. He said: “Everyone is predicting the price of bitcoin after halving.” He said that although crypto analysts’ forecasts have been criticized, “traditional securities analysts have tried to predict by observing the economic crisis of 1918, 1929 or 2008. What will happen in 2020. “
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