With the approaching date of bitcoin halving, investors are curious whether its price will reach record highs from 2017 in upcoming months or whether the price even increases
Information on bitcoin is getting a lot of attention lately especially through Google, as Norweigian analyst company Arcane Research stated in its report. The most sought-after term is “bitcoin halving” itself and its frequency doubled compared to searches in December. Additionally, the frequency is highest since 2016 when last halving of the popular cryptocurrency took place.
According to Arcane Research, May bitcoin halving could attract even more public and as such increase demand for the digital currency. It’s already clear that “new people” are interested in bitcoin.
Halving means that bitcoin mining and its offer will slow down and will only grow in half of its previous pace, which should increase bitcoin value. However, if there is more demand for bitcoin affecting its price, then the price could grow even faster. Analyst from German Bank BayernLB predicted that bitcoin could soon reach value of $90,000. Yet, other predictions are not that positive.