December 15, 2019, | AtoZ Markets – Bitcoin’s halving of block reward in May 2020 is being watched closely by investors and crypto enthusiasts. As per info from Google Trends on December 17, global searches for “Bitcoin halving” have considerably grown during 2019. In the past five years, search volumes increased considerably in 2016 when previous ‘Bitcoin halving’ took place.
On the contrary, the search for “Bitcoin” has decreased in the past few months, reflecting the disinterest connected with the crypto’s price fall. When Bitcoin rebounded in November, the search volumes increased once again.
Nevertheless, an analyst did notice the crypto market’s increasing interest in halving.
Bitcoin halving interest grows in the U.S
Tuur Demeester, a founding partner at Adamant Capital, shared Google Trends’ chart with “bitcoin halving” searches in the United States. These searches, however, have been growing throughout 2019 and reached their highest point in several years.
Searches for "Bitcoin Halving" - Google Trends: pic.twitter.com/Hy86hnTZ3T— Tuur Demeester (@TuurDemeester) December 16, 2019
Demeester also tweeted
“It’s very clear that retail interest in BTC is nonexistent and investor sentiment is pretty bad right now. Question is whether the halvening could provide a bullish narrative – the Google trends data imo suggests it could.”
Because you know that the google trend of Bitcoin is depressing?— zazazu (@___zazazu) December 17, 2019
Halving specifically reflects a situation where the number of “new” Bitcoins given to miners for every block of transactions decreases by 50%. The reward will decrease next year from 12.5 BTC to 6.25 BTC. Some crypto think tanks have alleged that miner behavior is already undergoing a change because of this.
Meanwhile, the volume of Venezuelan bolivars traded against Bitcoin (BTC) on LocalBitcoins has hit another all-time high last week.
Venezuelan bolivar trading volumes hit a new record high
Due to an economy struck by hyperinflation, Venezuela has seen its Bitcoin and cryptocurrency industry grow considerably. For a country crippled by political and economic turmoil, Venezuela exhibited a mammoth surge in its trading volume for Bitcoin over the past year via LocalBitcoin, a cryptocurrency trading platform.
According to the statistics charted by Bitcoin stats and service provider Coin Dance, Venezuela recorded a trading volume exceeded 209 billion during the week ending December 14 on LocalBitcoin. This new all-time high was followed by a massive trading volume in the preceding week ending December 7. As per Coin Dance, bolivar volumes have been slowly breaking new records in December, surpassing the previous all-time high of 205 billion bolivars.
Venezuelan President to reward public workers with Petro airdrop
As AtoZMarkets reported, the President of Venezuela, Nicolas Maduro is feeling the Christmas spirit. As a result, he wants to share his cheer with the country’s public servants with its state-backed cryptocurrency Petro.
The president is planning to airdrop 0.5 Petro (which is worth a reported $30) to the country’s public sector workers this holiday season. This also includes military personnel and retirees. To take part, users have to sign up and get a wallet on PetroApp to receive their Petros this week.