In the run-up to the Bitcoin halving, there was a sharp spike in Google search queries about this event. As of April 18, 2024, the level of interest in reducing mining rewards is estimated at 61 points, according to Google Trends.
Level of interest in Bitcoin halving. Source: Google Trends.
Note that this is the highest figure in the entire history of Bitcoin. By comparison, in 2020, the halving interest rate rose to 58. Projected Google Trends data shows that it will reach 100 points by the end of April 2024.
The largest number of search queries was recorded in countries such as the Netherlands, Switzerland, Slovenia, Austria and Cyprus. In addition, users from Nigeria and Singapore showed high interest in halving.
One of the key events of 2024 will probably take place on April 20, according to the portal. BitcoinBlockHalf. After the halving, which is less than 1000 blocks away, the reward for a mined Bitcoin block will be reduced from 6.25 BTC to 3.125 BTC. Considering the current price of the first cryptocurrency, miners’ losses will reach $10 billion within a year, experts noted.
At the same time, 10x Research analyst Markus Thielen believes that after the halving, miners could sell $5 billion worth of Bitcoin. The sale of these reserves, which have been accumulated over the past few months, could disrupt the dynamics of the market, he said.
Source: Cryptocurrency
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