Bitcoin halving in 4 years tomorrow...Google related searches at an all-time high
Interest in Bitcoin (BTC) halving is at an all-time high, with Google searches for the keyword "BTC halving" reaching a record high. According to Google Trends data, interest in the search query hit a record high of 100 on Nov. 18, the highest ever. Interest in the search keyword began to rise in January, but in April, it skyrocketed.
Bitcoin halving is a quadrennial event that halves the production of Bitcoin for a specific period of time, providing a deflationary effect on Bitcoin. Investor interest in the Bitcoin halving began to show up in Google searches as investors hoped that the halving would have a deflationary effect on Bitcoin, which could drive the price of Bitcoin higher.
The upcoming 2024 Bitcoin halving is expected to last approximately 98 days, during which time the production of bitcoins will average around 450 per day. Before the halving, the average daily production of bitcoins was around 900. Meanwhile, many experts are pessimistic about the short-term effect of the halving on Bitcoin's price. This is because in the past, Bitcoin's price has risen gradually over time, not immediately after the halving.
