Bitcoin the most volatile cryptocurrency, has grabbed the interest of many during the 2020 block reward halving phase. Though, the hype not able to hold the consistency in its search pattern for a long time.
The new analysis of the Google trend shows that Bitcoin (BTC) price search is getting slower, since the reward halving took place on May 11. The present scenario indicates that Bitcoin halving 2020 is not proving productive to impress people and to drive their interest in its related search queries.
Reportedly, the dwindling interest in BTC is due to the static price range of the crypto asset which is centering around $9,500. The search interest in BTC is back again to the usual position which had seen in April.
In April-mid, the price of the major crypto-asset jumped from $6800 to almost $10,000. During the time, the industry mavens and analysts speculated the big surge in the crypto industry. However, the expectations from the halving 2020 have not yet proved successful, and BTC it still playing with the market sentiments.
Google Trends on BTC Halving Hype
Google Trends the data reflects that people are more concerned about the Coronavirus Pandemic and BTC price search interest is draining.
However, the data also suggests that the BTC Halving 2020 phase has sparked the hype of cryptocurrency and digital assets in the mainstream, which further increased the search volume of BTC price and link up queries.
One of the reasons for mushrooming interest in BTC is due to the hanging economic uncertainty over the world. And, BTC halving hype acted like a catalyst to trigger the emotions of the people.
Usually, after the post Bitcoin reward halving phase, miners dump their BTC due to the pre-structured pattern of BTC blockchain which cuts the mining rewards by 50% every time. However, this time the post-halving phase hasn’t seen the dump in the crypto market so far.