"Bitcoin Halving" Tops All-Time Google Search Highs
Interest in "Bitcoin halving" is reaching unprecedented levels, doubling compared to the last halving event in 2020.
"Bitcoin Halving" Tops All-Time Google Searches. Image: Emprendedor
Data from Google Trends as of April 18 shows searches for "Bitcoin halving" at 49 points, with predictions indicating it will peak at 100 points by the end of this month. Interest in this year's halving has surged to new heights, doubling compared to the event in 2020, the most recent occurrence.
Interest in Bitcoin halving has reached record levels. Source: Google Trends
The 0-100 scale measures user interest in a keyword over a specific time period and region. A value of 100 indicates the highest popularity for that keyword, while a value of 0 means insufficient data.
Statistics also reveal significant interest in Bitcoin halving from users in Nigeria, the Netherlands, Switzerland, and Cyprus. Vietnam ranks 39th in search interest.
Nigeria leads in interest for Bitcoin halving searches. Source: Google Trends
As reported by Coin68, halving is Bitcoin's inflation-reduction mechanism, designed by Satoshi Nakamoto to halve the block reward every 120,000 blocks, approximately every four years. This event ensures the prolonged issuance of Bitcoin, maintaining its maximum supply of 21 million BTC until 2140.
This year, halving will reduce the mining reward from 6.25 BTC per block to 3.125 BTC. This significant milestone is expected to occur on the morning of April 20, 2024 (Vietnam time).
Bitcoin started 2024 at $42,200 USD and surged 74% to achieve a new all-time high of $73,777 USD on March 14. Since then, Bitcoin has cooled down and experienced declines from April onwards. At the time of writing, the flagship cryptocurrency is trading at $62,073 USD.
1D chart of BTC/USDT pair on Binance as of 10:10 AM, April 18, 2024
Despite prevailing market pessimism, many experts point to Bitcoin's historical patterns indicating significant growth post-halving. However, major figures such as JPMorgan and BitMEX co-founder Arthur Hayes project a substantial decline for Bitcoin following the halving event.
