- Google searches for ‘Bitcoin halving’ have increased by an order of magnitude in the past year
The next scheduled Bitcoin halving is estimated to arrive on 12 May 2020, which is less than four months away, and Google searches for the term ‘Bitcoin halving’ have been accelerating. In the past year, the interest over time for the term has increased from 10 to 100, and the general trend is that searches continue to increase in an exponential fashion.
This indicates that the mainstream is becoming interesting in the upcoming Bitcoin block reward halving, and this could increase the impact of the halving. The halving is already critically important from an economic standpoint since when the block reward is halved, the number of newly-generated Bitcoin available on the market will be drastically reduced. According to the law of supply and demand, this decrease in supply will cause Bitcoin’s price to increase, especially if demand increases and the surge in Google searches suggests demand could simultaneously increase.
Indeed, there has been a major Bitcoin rally after each of the block halvings so far in history, and already Bitcoin’s price is rising towards USD 10,000, indicating that this next event has the potential to induce a major rally.
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