Google searches for "Bitcoin halving" surged, exceeding the previous halving search peak by 350%

Google searches for “Bitcoin halving” hit an all-time high, far exceeding the peak of the previous halving search by 350%.

According to Google’s standardized scale, searches for the Bitcoin (BTC) halving event have reached 100, the highest value ever. At the time of the last halving in 2016, the value was 28. This means that the current level of interest is nearly 360% higher than four years ago.

Google searches for “Bitcoin halving” Source: Google Trends

It’s still a bear market

The last halving took place on July 9, 2016, when the block reward was reduced from 25 BTC to 12.5 BTC. Although the Bitcoin price had risen before the halving occurred, the real bull run came a few months later. This time we have experienced a significant price increase since Black Thursday. However, we are still far behind Bitcoin's all-time high of nearly $20,000.

Despite the recent bull trend, Bitcoin has been stagnant in a bear market for two and a half years. To escape this unprecedented downturn, the Bitcoin price must break the previous high set in December 2017 within 17 months of the halving.

Bitcoin price after 2016 halving. Source: Glassnode

Institutional adoption

The increase in public interest in the Bitcoin halving is not surprising, given the expansion of the cryptocurrency space in recent years. In addition to this natural growth, the ongoing economic crisis is likely another factor contributing to this growth.

Recently, Cointelegraph reported that Paul Tudor Jones, a well-known hedge fund manager, praised Bitcoin as a hedge against fiat inflation. His popularity in the financial industry could boost the rate of institutional adoption of Bitcoin, pushing Bitcoin prices to new highs.