Google Queries for BTC Halving Hits All-Time High

Google’s queries for “Bitcoin Halving” soared beyond all levels shown in 2016 in this last year. Statistics reveal that many people search for details about the block-reward halving of the first and largest crypto-currency until it happens in mid-May.

Search queries in cryptocurrencies are also among the strongest methods to assess retail demand. The halving of Bitcoin is expected to take place in mid-May, has been widely followed — and as a result, Google’s search activity has rapidly increased.

Google Trends reveals that Bitcoin’s halving activity is being investigated by the public as never before. In practical terms, today there are more Queries for “Bitcoin Halving” than was the case before the last halving of 2016. It’s a positive sign as we get real close to delivering fresh bitcoins that are halved.

Still, it’s uncertain if we’ll see another spike in Bitcoin trading behavior as we enter the halving activity. Several experts also assume that the sell-off to hold-in gains before the activity may be further amplified by BTC miners. Morgan Creek Digital has estimated that, until after, Bitcoin may not see an all-time high — an expectation that has traditionally proven valid.

Amid rising participation in Google’s quest, the upsurge has yet to be factored in price or volume trading. Presently, Bitcoin’s RSI is at its minimum level in its history before any further halving. It may mean that they are over-sold.

The crypto-currency industry also has to deal with macroeconomic conditions. As well as the International Monetary Fund (IMF) already expecting a big downturn due to the ongoing shutdown, market participants may have little chance of putting their funds into Bitcoin. The industry-leading crypto-currency also appears to mirror the S&P 500, so participants will be closely monitoring the traditional financial markets.

Halving is the cryptocurrency space’s biggest significant activity but Bitcoin also has not encountered a macroeconomic circumstance such as this. It was formed out of the global recession of 2008 and now will experience the first-ever global recession. Hence the outlook is still susceptible to uncertainty and speculation.