Bitcoin halving searches on Google are at an all-time high.
Interest in ‘Bitcoin Halving' on Google Hits All-Time High, Data Predicts 2018 It has more than doubled in 2020 from the previous half.
According to Google Trends data, search interest for the term ‘Bitcoin Halving' has reached 45 points – Google predicts it will reach 100 by the end of this month.
Google Trends notes that a value of 100 translates to “high popularity” for the term.
Bitcoin's halving is when the reward paid to miners is halved. This year, Bitcoin's halving will block rewards from 6.25 BTC to 3.125 BTC.
The halving is currently scheduled to take place on April 20th at 4am UTC on the Cointelegraph countdown timer.
Google Trends showed that Bitcoin's halving saw strong demand from Nigeria, the Netherlands, Switzerland and Cyprus.
Related: Bitcoin bull Pompliano says BTC outperforms gold and ‘leader in recovery'
The level of interest in the half event may not come as a surprise following the banner performance of Bitcoin (BTC) over the past few months.
Bitcoin started the year at $42,200 and rose 74% to reach a new all-time high of $73,600 on May 13, according to CoinMarketCap data.
Bitcoin price action has been cool and has been trading consistently low since mid-May. At the time of publication, Bitcoin is changing hands for $61,078 – down 17% from its all-time high.
Despite the bullish sentiment from market participants, several market analysts point to historical patterns in Bitcoin's price action, suggesting that Bitcoin could rally sharply in the months following the decline.
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