Bitcoin (BTC) has once again attracted public attention after its price this week slipped to its lowest level since May. According to data from Google Trends, the popularity of the search term “Bitcoin” has increased considerably again in the past week.
“Bitcoin Halving” also in the spotlight
Accordingly, the search term “Bitcoin” has currently reached its highest level since October, when the Bitcoin exchange rate was almost 10,000 US dollars.
The geographical distribution shows that the greatest interest comes from Africa, with Nigeria, South Africa and Ghana being the regions with the most search queries. Austria and Switzerland complete the top 5.
Related search queries, which go a little deeper into the subject matter, are also included.The search term “Bitcoin Halving” has also reached a new high since October.
The so-called halving describes the halving of the rate of increase of the circulation volume of Bitcoin, which could have a decisive influence on the future share price development. This halving is expected to take place in May 2020. Experts suspect that this will trigger a considerable rise in the share price in advance.
Volatility set to continue
The mass media often only report on crypto currencies when prices fall sharply or rise.
This thesis is also confirmed by the recent burgeoning interest, which is very probably related to the current crash of Bitcoin. Since the beginning of last week, the market-leading crypto currency has slipped by 20%, while for the month as a whole there is even a minus of almost 30% on paper.
According to the statistician Willy Woo, this volatility will not subside so quickly either, since the halving mentioned above is imminent. However, he does not assume that Bitcoin will behave similarly to previous halves, as the price this time is significantly weaker in advance.
Meanwhile, public interest seems to be limited to Bitcoin only, as search terms like “Altcoins”, “Ethereum”, “ETH” and “XRP” did not show any noticeable increase.