Google Searches for ‘Bitcoin Halving’ Surge Since Beginning of Year

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.