CoinWire: Interest in Bitcoin halving has doubled since 2020.
The interest in Bitcoin halving has significantly increased worldwide compared to last year, according to research conducted by CoinWire and provided to crypto.news. The appeal of Bitcoin’s halving event has almost doubled since the previous block reward reduction that occurs every four years.
CoinWire analyzed this year’s Google Trends data from different countries and found that the interest in BTC halving started to rise 51 to 100 days before the event. In November 2012, during the first halving, the interest in Bitcoin halving was negligible as blockchain technology and cryptocurrencies were still new and not widely known. However, by July 2016, the interest had grown to a score of four, and by the third halving in May 2020, it had increased nearly 13 times.
Interestingly, European countries dominated the Google search queries related to Bitcoin halving, despite the United States approving spot Bitcoin ETFs and having high trading volumes. The top five countries showing the most interest in Bitcoin halving were the Netherlands, Slovenia, Switzerland, Austria, and Singapore. Additionally, the top 10 cities with the highest interest in Bitcoin halving were all located in Europe, with Zurich, Amsterdam, and Rotterdam leading the pack.
Although the United States ranked 22nd among countries searching for Bitcoin halving information, specific states within America showed high demand. CoinWire’s analysis revealed that North and South Dakota had a score of 100, similar to Zurich.
As the halving event approaches, analysts believe that this year’s halving could have different price impacts and narratives due to the introduction of spot Bitcoin ETFs and the growing popularity of decentralized finance (defi) on Bitcoin’s blockchain. Ryan Lee, the Chief Analyst at Bitget, suggests that there may be an increased demand for BTC solutions and decentralized apps (dapps) as the halving garners more attention.
To further support the growth of decentralized finance on Bitcoin’s blockchain, a pseudonymous builder named Domo has created the BRC-20 standard, similar to Ethereum’s ERC-20 standard, which is widely used for digital assets on the Ethereum blockchain.
Overall, the interest in Bitcoin halving has surged globally, with Europe leading the way in terms of search queries and cities showing the most curiosity. As the halving event approaches, experts are anticipating unique developments in price and narratives, driven by spot Bitcoin ETFs and the growing defi movement.
