We are now less than five months away from the third halving in Bitcoin’s decade long history.
However, the most pressing question on the mind of nearly every investor is whether the economic event has been factored into the current price of Bitcoin.
Many are predicting that the cryptocurrency’s market value to reach five digits in the months ahead, while some believe that prices will instead plunge lower as we approach the halving in May.
Clearly, there is no perfect way to calculate how significantly the upcoming Bitcoin halving because of the little data available. Only two such events have ever happened (2012 and 2016), and the number of Bitcoin users then are significantly low when compared to what we have today.
Irrespective of that shift, though, Google Trends data which is often used to measure public sentiment towards a particular topic or keyword shows that the current volume of searches for “bitcoin halving” is no way near where it was during the last halving in 2016.
Other insights on the global chart show that searches have rapidly grown over the last six months.
Related search terms such as bitcoin 2020, bitcoin halving countdown, bitcoin halving 2019, when is the bitcoin halving, has recently been on the breakout while countries like Slovenia, Netherlands, Malaysia, Czech and Switzerland are leading the search rankings.
Evidently, with mainstream media still to play their part on promoting the halving event to their audience which primarily includes people who do not own Bitcoin or have sufficient knowledge of how it works, Google searches for the keyword could see new highs in the months ahead if history is anything to go by.