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Demand On The Rise? ‘Buy Bitcoin’ Surges On Google Trends Ahead Of The Halving


Days before the third-ever Bitcoin halving, the interest towards the primary cryptocurrency has surged, according to Google trends. The phrase “buy Bitcoin” is getting very close to the previous two-year high levels of June 2019’s bull-run and the March 12 dump of this year.

 Buy Bitcoin Search Volume Increases
Significant attention is heading Bitcoin’s way, as can be seen on Google trends. “Buy Bitcoin” searches have increased to the highest point since April 2018.
Arguably the most anticipated event in the cryptocurrency industry this year will take place in a little over a week. The Bitcoin halving occurs roughly once every four years, and it slashes in half the rewards miners receive for adding new blocks to the network. Meaning, it reduces the supply of freshly minted bitcoins.

Historically, the price of the asset has surged following the previous two halvings. Therefore, speculations of upcoming price increases are high at the moment, which could be propelling the growing interest.
The graph above also illustrates the previous occasions when “buy Bitcoin” interest was at similar levels since 2018. Firstly, it happened in June 2019. Somewhat unsurprisingly, this was the month when the primary cryptocurrency reached its yearly high of nearly $14,000.
However, it also implies that the most substantial parts of the general masses are yet to arrive at the scene, leaving lots of room for growth.

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