Reaction from the general public to Bitcoin’s recent price fall seems to be a bit positive, as data from Google Trends, shows that even though price plummeted, interest has spiked. Current levels are as high as last month when the king coin hit $10,000.
According to the data, the spikes seem to have come from a renewed interest in Africa. Three of the top five countries including Nigeria, South Africa, and Ghana are African, with Austria and Switzerland as the remaining two countries from the top five.
Further data shows that people are a little more interested than just searching “Bitcoin.” Google Trends shows that interest in the “Bitcoin halving” has also increased, possibly as people are anticipating a price jump by May.
A Bitcoin halving is a network event that happens after every 210,000 blocks are mined, a process that usually takes about 4 years. At every halving, block rewards paid out to miners for every block produced is exactly halved, creating a scarcity that historically sends prices high. The next halving is expected in May next year and is highly anticipated as people consider it a big enough catalyst for another major Bitcoin bull run, possibly pushing it to its current all-time high at $20,000.
Image Credits: Pixabay
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