Google has recorded an increase in search queries for the upcoming Bitcoin halving event. This increase is attributed to the expectation that Bitcoin’s price will surge and inflation will also halve.
Per Google Trends information, an increase in the halving event has been steady since 2018, especially when compared with the volume of search queries at the time of Bitcoin’s second halving in 2016. Although this was noted by Google Trends, Arcane Research had pointed this out before. The company noted that the increase in Bitcoin’s search volume is accelerating and approaching 100% in comparison to the 2016 search that preceded the second halving event.
Because of the figures, some believe that the Bitcoin market will boom post-halving, leading to a spike in its price. Demand is expected to increase which should, in turn, spike prices.
Binance CEO Changpeng Zhao mentioned in an interview with BLOCKTV that the upcoming halving has not yet been priced in. Zhao believes that as the event inches closer, the asset’s price will increase in preparation for the halving event. Zhao is one of many Bitcoin proponents who expect a spike in prices after the halving, just as it has happened in previous years.
Bulls predict that prices could hit $20,000 after the event.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
