Interests for "Bitcoin Halving" on Google searches reach highest numbers

In anticipation of the quadrennial event, interest for Bitcoin Halving on Google searches has grown exponentially

Google’s search data recently revealed that the interest for the forthcoming Bitcoin’s block halving has reached an unprecedented level.

The data shows there has been a record-breaking search for the term “Bitcoin halving” with the present record exceeding the spike for the previous halving by 350%. No surprise that data suggests FOMO is once again on the rise with users increasingly signing up to purchase the well-known cryptocurrency.

On Google’s normalized scale, searches for Bitcoin halving has reached the peak scale of 100, which is the highest-ever value. During the previous halving four years ago, the value was 28, which was even considered high at the time. But with the new interest level, it’s an indication that the interest in the event has tripled since it was last held in 2016.

Bitcoin price has improved since black Thursday

In the previous bitcoin halving on July 9, 2016, the block reward was slashed to 12 BTC from 25 BTC.

Before the halving, the price of Bitcoin initially started moving in the bear direction. However, a few months after halving, Bitcoin took a major upscale and continued a bull run several weeks after the halving.

However, it seems the current price before another halving started the bull race far too early. Since Black Thursday, there has been a significant price upscale on Bitcoin, although the rise is still well below Bitcoin’s all-time high of nearly $20,000.

Bitcoin has been in the bear market for two years

Although Bitcoin has been moving upwards for the past several weeks, there’s no denying the fact that it has been in the bear market, rather than the bull market, for the past two years. To turn its fortunes around and be considered threading in the bull market, Bitcoin has to make an unprecedented price gain.

Bitcoin has to match or surpass the all-time value of nearly $20,000 it reached 17 months after the 2016 halving. Considering that Bitcoin is still hovering around $9,600 mark, some observers think attaining that level within this period may be difficult. But some are optimistic it could still happen.

Institutional adoption fueling Bitcoin’s popularity

The level of interest in Bitcoin halving does not come as a surprise considering the level of public interest the cryptocurrency has gained since its 2017 unprecedented rise to $20,000. Apart from the natural growth of the coin, the present economic downtown in the mainstream financial sector appears to be spurring more interest in the coin. This interest may take a bigger leap as the Bitcoin halving takes place in a few days.