Interest in the Bitcoin halving on Google has reached unprecedented levels, surpassing all previous records. Predicted data indicates that it's more than double the interest observed during the last halving in 2020.
According to Google Trends data, search interest for the term "Bitcoin halving" has already hit a score of 45, with Google forecasting it to reach an estimated score of 100 by the end of the month. Google Trends defines a score of 100 as "peak popularity" for the term.
The Bitcoin halving, which will see rewards paid to miners cut in half, is set to reduce block rewards from 6.25 BTC to 3.125 BTC in 2024. Scheduled to occur around 4:00 am UTC on April 20, as per the Cointelegraph countdown timer, this event has garnered significant attention worldwide.
Google Trends data reveals that the Bitcoin halving is generating the most interest in countries like Nigeria, the Netherlands, Switzerland, and Cyprus.
The heightened interest in the halving comes amidst Bitcoin's remarkable performance in recent months. Starting the year at $42,200, Bitcoin surged by 74% to reach a new all-time high of $73,600 on March 13, according to CoinMarketCap data. While its price has since cooled off and consistently traded lower since mid-May, Bitcoin currently stands at $61,078, down 17% from its peak.
Despite this, some market analysts remain optimistic, citing historical patterns of Bitcoin price action to suggest a potential significant rally in the months following the halving.