26.5.2020 | 07:42
Bitcoin, the world’s first kryptonet, is still a trend on Google Trends, even though BTC’s Halving happened a few days ago. Why? Is there another massive adoption coming?
Bitcoin’s Halving is in the past. But, even so, searches for the words BTC and Bitcoin are still going through the roof on the most important search engine on the Internet.
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Bitcoin and the Halving
One of the most important events in cryptoverse is Halving of Bitcoin. This consists of reducing by just half the rewards that crypto miners receive. On this occasion, from 12.5 BTC per block, it went to 6.25 BTC per block.
This, as we can assume, has brought a great impact on the whole ecosystem, which historically has led to an increase in BTC prices in the following months. And, therefore, it has positioned Bitcoin as a trend in Google.
For all the great revolution it causes, it’s normal for Bitcoin Storm Software, Bitcoin Profit Software, Bitcoin Champion Software, Bitcoin Evolution Software, Bitcoin Code Software searches to skyrocket months before Halving. Whether it’s the miners themselves informing themselves day by day, the traders waiting for a sudden change in prices, or the new users who are very curious about this feature of BTC.
But, what is not normal here is that after Halving, BTC is still a trend in Google Trends. What can this mean?
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Bitcoin trend in Google Trends
As we can see in the following Google Trends graph, the mentions of Bitcoin (Blue) and BTC (Red) had a constant behavior, with a series of increases in the month of March. These were the days when the Coronavirus was declared a pandemic and countries began to close their borders.
Bitcoin trend on Google
From there, Bitcoin increased the trend of Google searches compared to the beginning of the year. Due to the Coronavirus, the decoupling phenomenon and the approaching Halving event.
In addition, what we can see this week is that the Bitcoin search trend in Google has cooled down a bit after Halving, but has not yet reached its levels of the beginning of the year.
Why is that? One reason could be that in the weeks before, and days after, this event, famous people from all over the world have commented on BTC, making it a trend.
One of these personalities has been the American billionaire Paul Tudor, who has invested in BTC as protection against a possible global hyperinflation after the Coronavirus. This has helped generate the trend in Google about Bitcoin.
The other has been Elon Musk, CEO of Tesla, who has had a bit of a strange quarantine and has mentioned BTC on several occasions, trending Bitcoin on Twitter and Google.
The latest celebrity to comment on BTC has been J.K. Rowling, the author of Harry Potter. Which has been a trend in recent days, for asking „What is Bitcoin?
This, along with everything that’s going on in the world, has put Bitcoin on Google as a trend.