Norwegian cryptocurrency intelligence company Arcane Research says Google searches for the term “Bitcoin halving” have spiked in the last 12 months. While the exact number of queries is not documented, the firm says its research has revealed the level of interest over time for the phrase, using data from Google Trends.
In January of 2019, searches for the term flashed readings of below 20. A year later, the term registered an interest level of 100, indicating peak popularity. The conclusion from Arcane Research is that Bitcoin’s upcoming halving is “gaining more traction” among the crypto curious.
The last time the term spiked in popularity was back in 2016, when the king of cryptocurrency halved for the second time. In that year, Bitcoin’s price grew by nearly 125%.
In May 2020, Bitcoin rewards will be halved from 12.5 BTC to 6.25 BTC per block. Past halving events have foreshadowed a bull market. Today, not all crypto enthusiasts are convinced that the next bull market will emerge after the third halving. Arcane Research notes,
“Independent of the conclusion, there is now a clear indication that awareness of the concept has spread to new people.”
Featured Image: Shutterstock/Alberto Andrei Rosu