The much-anticipated halving event is scheduled to take place on April 20 at 4:00 am UTC. Interestingly, countries like Cyprus, Nigeria, the Netherlands, and Switzerland have shown the most interest in Bitcoin halving, as revealed by Google searches.
It is worth noting that the popularity of searches related to Bitcoin halving on Google has reached an all-time high. In fact, experts predict that it will be more than twice as popular as the previous halving event in 2020. According to Google Trends, the phrase “Bitcoin halving” is expected to reach a score of 100 by the end of the month, compared to its initial score of 45 at the beginning of April.
For those unfamiliar with the term, Bitcoin halving refers to the process of reducing the incentives given to Bitcoin miners. In the upcoming halving event in 2024, block rewards will decrease from 6.25 BTC to 3.125 BTC.
All eyes are currently on this impending halving event. The countries mentioned earlier have shown a keen interest in Bitcoin halving, highlighting the widespread curiosity surrounding this event.
Given Bitcoin’s remarkable surge in value over the past three months, the immense enthusiasm surrounding the halving event is not surprising. CoinMarketCap statistics reveal that Bitcoin’s price skyrocketed from $42,200 at the beginning of the year to a new all-time high of $73,600 on March 13.
Since then, Bitcoin’s price has experienced significant volatility and has fallen by 17% from its peak, currently trading at $62,292. However, despite this dip, several market analysts remain optimistic and predict a substantial rebound in the months following the halving event, counteracting the prevailing gloomy sentiment among market players.
In other cryptocurrency news, Bitget’s COO recently led a discussion on the future of cryptocurrency during Blockchain Life Week 2024.