Bitcoin halving that takes place in every four year expected to shake up prices towards 2017’s all-time-high near $20,000. As the halving basically cuts the supply of new Bitcoins in half, many believe this event will have a dramatic effect on Bitcoin’s price. Although Bitcoin’s fixed supply means that miners will eventually have to give up their block rewards, it also creates an opportunity for miners to survive on transaction fees though simple monetary theory.
Reportedly, the topic is surging on Google. A term is showed on the search engine’s Google Trends feature that bitcoin halving have doubled this month from December levels to the highest since the last such event in 2016. So, it is thought that an increment in searching got happened and maybe the upcoming halving will carry a great interest of people that will lead to higher prices in 2020.
Awareness is increasing among people as a result the traction to crypto is getting accelerated at an alarming rate. There is no exact number that how many people searched for crypto because Google Trends doesn’t show the number. Bitcoin halving when happened backed in 2016 led to Bitcoin price increment. At the time of bitcoin halving, the bitcoin network undergoes a 50 percent reduction in its ‘’mining rewards.’’ More investors can consider getting into the cryptocurrency when the pace of new issuance will decrease at a time and thus bitcoin’s price can be boosted up as expected.
Bitcoin as an investment outperformed traditional assets like equities. Though a sign of changing in price is coming under sight, it is creating a positive impression about the upcoming bitcoin halving. An assumption says that the halving could send bitcoin to a new record around $90,000. A number of parties with the intention of different programs formed. Some even opened websites to count down the remaining days, hours, minutes and seconds until halving happens. The even can take place on or around May 12.