Why Those “Bitcoin Halving” Searches Could Boost Prices
I posted a thread on the rise of “Bitcoin Halving” searches the other day. With the halving only 27-some days away, interest in the halving is growing by the day – and just might help push prices way up.
WHY SEARCHES FOR “BITCOIN HALVING” SETTING A NEW HIGH COULD BOOST PRICES
Although the correlation has been muddied by the “Black Thursday” crash seen in March, there has been a slight correlation between the performance of Bitcoin and Google Trends’ score for the term.
Namely, interest in the term began to rally on the week of December 8th, when BTC was bottoming at $6,400, then found a local top on the week of February 15, very close to the $10,500 top. Furthermore, since the “Black Thursday” crash on March 12th, interest in the halving has doubled, which has coincided with a 100% rally in the price of Bitcoin and other cryptocurrencies.
Below is a chart that displays this potential correlation, with the red dots indicating bottoms in the price of Bitcoin.