According to Google Trends statistics, search interest in Bitcoin, the first digital currency, has dropped to its lowest point since October 2020. At this time, the leading cryptocurrency is valued at $27,500.
Dwindling interest
According to current data, search interest just reached 14. When compared to its peak of 100 in May 2021 and the following 63 it reported in June 2022, this is a sharp contrast.
Within the cryptocurrency world, this decline in search interest is typically regarded as a bullish indicator, pointing to a market free of hype.
In the past, such times of little interest to the public frequently come before substantial price increases.
Upcoming halving buzz
According to U.Today, the leading cryptocurrency exchange Binance has prominently displayed a Bitcoin halving countdown on its home page.
Its controversial CEO, Changpeng Zhao (CZ), thinks that as the price halving draws near, there will be more conversations and expectations regarding Bitcoin.
Although it’s unlikely that the price of Bitcoin would rise immediately after the halving, it might hit record highs the following year. CZ advises caution, pointing out that historical patterns do not predict future results.
Regardless of how the price will react to the halving, there is a good chance that news will be made about Bitcoin in the days leading up to the event.
