The third Bitcoin halving cycle is rapidly coming to a close. The multi-billion-dollar question on the lips of many investors is whether price performances following past events will repeat.
According to Google Trends, it looks like US interest in the event is actually waning with just weeks to go. Could this be a sign that perhaps this time the rocket might explode en route to the proverbial moon?
US Interest in Bitcoin Halving Falling?
NewsBTC has reported on Google Trends many times previously. Given that the search engine is most people’s first port of call when they need information on a topic, the metric can provide valuable insight into what those outside of Twitter or Reddit feel about Bitcoin.
Haven’t seen this get a lot of attention on crypto twitter. Searches for halving and halvening already on the decline, weeks before it even happens pic.twitter.com/rCeeQn9zVZ
— Joe Weisenthal (@TheStalwart) March 10, 2020
A similar fall can be seen with the term “Bitcoin halving”. However, searches for the term “Bitcoin halvening” are actually increasing in the US.
Weisenthal says that search volume is “already on the decline, weeks before it even happens.” Whilst not explicit, he seems to imply that this halving is attracting less new interest, which may indicate that the widely anticipated post-halving-pump will struggle to live up to expectations.
Another Explanation for the Dropping Interest?
In response to Weisenthal, several followers offered different interpretations of the Google Trends data.
Twitter user Investors Spot (@Investors_Spot) drew attention to other figures relating to similar terms. They state that “Bitcoin Halving 2020” and “Bitcoin halving” have seen 1,100 percent and 550 percent increases in search volume so far in 2020.
They offer the following possible explanation for the…