Google
Searches for ‘Bitcoin Halving’ Surge Since Beginning of Year
Data from Google Trends, compiled by analytics
firm Arcane Research, shows that Bitcoin’s halving event is drawing
attention, with search queries for it skyrocketing since the end of last
year.
Searches for the block reward
decrease, according to the data, have already doubled since December and are
now getting close to their highest level since the last halving event, seen
in 2016. Arcane’s report cites the growing search interest as a positive
indicator of public interest. The report reads:
“The bitcoin halving is gaining more
traction. There is now a clear indication that awareness of the concept is
spreading to new people.”
The firm also pointed out
there’s growing demand from institutional investors as both Bakkt and the CME
have seen “evidence of growing demand for bitcoin.” Its report also shows
market sentiment towards cryptocurrencies is now returning to a point seen as
“neutral.”
Using Bitcoin’s Fear & Greed Index, it’s
possible to see sentiment has been around neutral levels for the past few
days as investors wait for BTC’s next move.