May’s Bitcoin halving event is starting to draw attention, according to the world’s leading search engine.
Using data compiled from Google trends, analytics firm Arcane Research published a new report showing that interest and searches for “bitcoin halving” have skyrocketed since the end of last year. Searches for the block reward decrease have already doubled since December and are approaching their highest level since the last halving event in 2016.
Arcane cites the growing trend in Google searches as a positive indicator for interest from the greater public.
According to the report,
The bitcoin halving is gaining more traction. There is now a clear indication that awareness of the concept is spreading to new people.
Arcane also claims there is an increase in demand for bitcoin from institutional investors following an increase of 1600 percent in Bakkt’s delivery.
The appetite for bitcoin seems to be growing among institutional investors. Last week, we reported on the notable increases in open interest on CME> There is now evidence of growing demand for bitcoin on Bakkt as well.
The report shows market sentiment towards crypto returning to “neutral” with the Fear & Greed Index now hovering around 50. Investors have pulled back from their “Greed” sentiment in previous weeks, as the market awaits the next direction for bitcoin.
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