The hype surrounding Bitcoin halving has been pretty strong for a long time now. Not just the hype but a general interest in the entire event and what is to follow also has been trending heavily on Google. According to the trends, the search for the keyword “Bitcoin halving” has set a serious record even surpassing the previous 2016 halving event.
The data from Google trends depict that ever since the last Halving event took place, more and more retailers and investors have entered the bandwagon and invested in Bitcoin. Perhaps this is the reason why the search stook at 500% more than what it has seen in the previous cases. In 2016 the index rating of searches was 18 whereas two days before the event took place the index rate stood at 100.
Comparing the keyword ‘Bitcoin halving’ to another keyword ‘Buy Bitcoin’ the search trends for it have been disappointing.
The term is nearly one-third down since its crash on March 12. The increasing interest in the halving event may or may not translate into additional buying as per the trends observed.
But the data surrounding the top countries interested in the halving event also was captured. Europe is trending to show increased interest in the halving event. It has the most number of search trails. Nations that lead the list on the most searches on Bitcoin halving are Slovenia, Switzerland, Netherlands, Austria, and Luxembourg. Africa’s largest country Nigeria also is a surprise entry in the list.
As can be seen from the above illustration, the countries that follow suit are Czechia, St. Helena, Singapore, and Estonia. The reward halving had been scheduled to activate at #630,000 block which will bring down the block reward to 6.25 effectively. Considering the brouhaha around the event, the afterward hasn’t been directly converting into a bull ride. The sentiments have still not translated due to the current reversal to $8,100 almost shedding $275 million which has led to a fear gripping traders. Despite the good recovery, it has shown ever since the Black Thursday whether a bull run is on the cards, only time will tell.
Image Source – Business Today