Bitcoin Halving Interest on Google Trends Reaches 4X 2016 Levels

If data from Google search results are anything to go by, the anticipation for the upcoming Bitcoin

Meanwhile, spikes are also emerging in on-chain activities, even leading to a significant increase in transaction fees. On the network fundamentals side of things, the hashrate has set a new ATH in time for the block reward halving a week away.

Source: Twitter

Bitcoin Halving Anticipation Continues to Grow

According to data from Google Trends pointed out by @runtheirstops on Twitter, search interest in the Bitcoin halving is now four times the level seen before the 2016 halving. Indeed, as previously reported by BeInCrypto, Bitcoin halving searches have been steadily climbing over the past few weeks.

Bitcoin Halving
Source: Google Trends

In the four years since the previous halving, the top-ranked cryptocurrency by market capitalization has become even more popular. No longer a niche topic of discussion, BTC and cryptocurrencies, in general, have arguably taken a prominent position in mainstream deliberations across finance and governance.

Thus, it is perhaps unsurprising to see Bitcoin halving anticipation spiking rapidly, especially given BTC’s historical precedence. The Bitcoin spot price reached new all-time highs one year on from the two previous 50% block subsidy reward reductions.

About a year-and-a-half after the July 2016 halving, the Bitcoin price famously almost crossed the $20,000 milestone. Indeed, the last halving ushered in an 18-month long bull run for the top-ranked cryptocurrency that saw its price grow from about $650 to $19,800 — a spike of almost 3,000%.

On-Chain Activity Spike

Google search interest is not the only indicator of growing anticipation for the upcoming halving. On-chain activity is also on the rise, leading to a spike in transaction fees as buyers continue to accumulate BTC.

Again, this accumulation, backed up by trends seen from retail buyers since February 2020, points to market expectations of another massive upward price gain for BTC. Even the flash crash of Black Thursday in mid-March appears to have done little to quell retail appetite for Bitcoin.

On the institutional side, crypto derivatives numbers and investment inflows in instruments like Grayscale Bitcoin Trust are also pointing to renewed interest from big-money players.

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Images courtesy of Shutterstock, Trading View and Twitter.

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As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.

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