Search Interest in Bitcoin and Cryptocurrencies Remains Low Despite ETF Approvals and Halving
Cryptocurrency analyst Ali Martínez expressed on Twitter that despite recent key events in Bitcoin, such as the launch of spot ETFs in the U.S. and the halving event, interest in the leading cryptocurrency and the market, in general, remains relatively low.
Martínez reached this conclusion by searching for “Bitcoin” and “Crypto” through the Google Trends tool, which analyzes online search trends.
According to the expert, this low level of attention from the general public suggests that the current bullish cycle of Bitcoin and cryptocurrencies is still in an early phase. Martínez’s analysis is reasonable, considering that significant historical price surges have typically been preceded by a significant increase in searches related to cryptocurrencies.
Martínez emphasized that the cryptocurrency market still has significant growth potential ahead. Additionally, historically, Bitcoin halving has been considered a bullish event for the leading cryptocurrency market, as it reduces the available supply of BTC and thus helps increase demand.
However, not all crypto Twitter users agreed with Martínez’s opinion, pointing out that many people no longer need to Google terms like BTC or crypto, as they have other learning tools or platforms such as exchanges.
Searches on Bitcoin Halving Mark Historic Record
The Bitcoin halving this Friday, April 20, sparked unprecedented interest worldwide. According to Google Trends data, searches related to “Bitcoin Halving” reached an all-time high, surpassing even the levels of the previous halving in 2020.
This phenomenon, encoded in the Bitcoin protocol, occurs approximately every four years and halves the reward miners receive for processing transactions on the network. Historically, it has caused significant volatility in the price of BTC before starting its bullish rally.
Although the renewed public interest in halving coincides with other recent milestones in the Bitcoin network, as noted by analyst Martínez, searches related to Bitcoin and other cryptocurrencies are still far from the highs reached during the late 2017 boom, when the price of BTC surged 1,878% from a low of approximately $1,000 to $19,783.
However, beyond implications for the price, the growing interest in the halving suggests a greater curiosity about understanding Bitcoin’s technical fundamentals.
