Searches for Bitcoin halving on Google are 300% higher than in 2016

[ShadowCrypto]

Bitcoin halving is about to happen and expectations are rising (Google searches prove it)

Why search?
Search numbers reveal that a larger portion of the general public is at least aware of Bitcoin and halving. Most of the research would probably be related to the search for information about halving and, therefore, could be of people unfamiliar with the currency.

In addition, during a period of unprecedented financial difficulties brought about by COVID-19, the US government expanded the existing money supply significantly. This has fueled fear of inflation and may be lending a greater interest in reducing the supply built into Bitcoin.



Fundamentals or FOMO?
The price action also corresponded to the increase in search traffic. Bitcoin's price increased by almost 25% in the first 10 days of the month.

This price action has speculated on a widespread fear of losing - often called FOMO. FOMO can raise prices without any underlying fundamentals, resulting in a bubble. Such an event occurred in the months that followed the previous halving, when in 2017 Bitcoin saw its historic record.

This current price increase, however, does not appear to be driven by FOMO. Larry Cermak, director of research and analysis at The Block, pointed out the difference in the two events:

https://twitter.com/lawmaster/status/1258715293708419072



Cermak's analysis shows that the number of new Twitter followers for major cryptocurrency identifiers like Binance and Coinbase has not increased. Without these increases, price increases apparently are not based on FOMO.

However, the price went up (and fell sharply yesterday). This, together with the increase in searches on Google, led to believe that the fundamentals are stronger than during the 2016 event.


Source, My Blog

[Leonardo]

That's an interesting fact. However, statistics are just statistics if they're not realisticized. All that bitcoin enthisiasts need right now is a surge in price. It may already came (a few days ago) or not come yet. Only time will tell. The funny thing is in the Wall Observer thread in the forum X, people are praying day by day to see the pump, lol. It's like you buy a lottery and pray for your fortune.

[Fenix]

The above analysis shows that the expected events to reduce rewards to miners are mainly of interest to those who are familiar with cryptocurrency and, apparently, have it in their wallets. That is, people are interested in how this event will affect the price of bitcoin and the entire cryptocurrency market. The practice of similar events in 2012 and 2016 indicates that bitcoin first falls in price for several months, and after the market adjusts itself again, within one year, bitcoin will already increase significantly in price. Therefore, in order to make a profit in the short term, many are now selling bitcoins in order to buy them after a likely fall in the near future. In this regard, Bitcoin fell yesterday in price. This fall is temporary.

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