A new report from CoinWire says that since 2020, interest in half Bitcoin has grown by two times.
The report shows that there is more attention around the world in Bitcoin’s halving event this year than last year. CoinWire’s study of Google Trends data shows that interest in the halving of BTC has grown a lot in the 51 to 100 days before the event.
When Bitcoin was first split in half in November 2012, the Google Trends score was extremely inadequate. This was because blockchain technology and cryptocurrencies were still very new in the financial world. This changed quickly, though. By July 2016, the number had gone up to four, and by May 2020, it had gone up nearly thirteen times.
Bitcoin Leads Europe’s Halving Interest
Even though spot Bitcoin ETFs were approved in the US and trade volumes went over $200 billion, most Google searches about the BTC halving were from European countries. The Netherlands, Slovenia, Switzerland, Austria, and Singapore were the five countries that showed the most interest.
The 10 towns in Europe that showed the most interest in halving BTC were found. Zurich got the highest score of 100, making it the clear winner. With scores of 98 and 93, respectively, Amsterdam and Rotterdam in the Netherlands came in next. There are a few more places in Germany and Austria that made the list as well.
It’s interesting that while the US placed 22nd among countries looking for information about the BTC halving, some US states, like North and South Dakota, had a lot of demand, with a perfect score of 100 similar to Zurich.
Analysts think that this year’s split event could have a unique effect on prices and stories. This is because of things like the launch of spot Bitcoin ETFs and the growth of the decentralized finance (DeFi) movement on Bitcoin’s blockchain.
“The ingrained positive buyer sentiment triggered by Bitcoin has also stirred a DeFi boom as many innovators began exploring the DeFi on BTC move. Notably, this innovation is in its infancy. However, we project this will form the next major trend that can help return positive value to Bitcoin proponents beyond the ETF offerings.”Ryan Lee, Bitget Chief Analyst
Also, a maker going by the name Domo has added the BRC-20 standard for digital assets on Bitcoin’s blockchain. This is similar to Ethereum’s ERC-20 and opens up more options in the ecosystem.
