• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Going Viral on ‘Chinese Twitter’ Is a Big Boost Ahead of Halving

Nick Chong by Nick Chong
2 years ago
in Bitcoin
0
Advertisement

According to multiple estimates based on mining factors, in approximately 20 days Bitcoin will see its next block reward reduction. With this, the 12.5 coin reward that is minted as each Bitcoin block is mined will drop to 6.25 coins, resulting in a halving in the asset’s inflation rate.

Data suggests that the hype around the Bitcoin halving is on the rise, and the crypto market stands to benefit from this trend.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Halving Explodes In Popularity

According to Molly — the former head of Bitcoin Magazine’s China operation — the Chinese term for “Bitcoin halving” has recently gone viral on Weibo, also called China’s Twitter.

The topic was the sixth-most searched in the past 24 hours, showing real interest in the event, despite China effectively banning the purchase of Bitcoin through yuan.

twitter bitcoin halving weibo

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

It’s a similar sight around the world.

Google Trends data indicates that last month, global Google users searched “Bitcoin halving” more than any month before. The search engine also projects that in April, “Bitcoin halving” will be searched two times more than last month, which was already a new all-time high.

This is bullish because it appears that a primary reason why the cryptocurrency market has been rallying as of late is due to hype around the halving. Indeed, according to Google data, the search terms “buy Bitcoin” and “Bitcoin halving” have trended in tandem since the year began, growing and shrinking in step. The correlation isn’t perfect, but it is clear they’re affecting each other.

It’s Only One Bullish Factor of Many

It’s important to note that Bitcoin’s impending block reward halving is only one bullish catalyst of many, as pointed out by Kelvin “Spartan Black” Koh — a partner at crypto fund The Spartan Group.

Koh, a former partner at Goldman Sachs, explained that he sees four other fundamental factors that he thinks will drive massive growth in the Bitcoin market moving forward:

  • Launch of Facebook’s crypto, Libra, is moving closer: Revealed last week, Libra is moving one step forward to seeing a launch. To do so, it has had to make changes to its plans for governance and its plans for the rollout. Analysts think this will drive Bitcoin adoption, as there’s expected to be some overlap between those that adopt Libra and those that adopt BTC.
  • China is rolling out its digital asset: As we’ve heard from local media reports and the People’s Bank of China itself, China is finally starting to roll out its national digital currency project after years of development. This will accelerate the move to digital cash systems, Bitcoin included.
  • Top markets are legalizing Bitcoin: Over the past few months, nations like India, South Korea, and Germany have made rulings and legislation on crypto and blockchain, showing that it supports innovation as long as it is within certain bounds.
  • Federal Reserve has activated “QE Infinity”: Announced last month, the Federal Reserve will purchase any amount of bonds (even if that means an infinite amount) to “support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”
Photo by Ken Lawrence on Unsplash
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Jordan Belfort

Jordan Belfort, The ‘Wolf Of Wall Street,’ Advises: Buy Bitcoin Today And Make Money

40 mins ago
Bitcoin

Bitcoin Saw Largest Ever Monthly Withdrawal From Exchanges In June

13 hours ago
Tesla

Tesla Bitcoin Investment Dwindles By $440 Million As Crypto Winter Drags On

19 hours ago
Oslo Freedom Forum, Hong Fang screenshot

3 Lessons From The Oslo Freedom Forum: Bitcoin As A Tool – Mallers, Roem, Fang

21 hours ago
bitcoin miners

Head To Head: Bitcoin Miner Revenues Surpass Ethereum But There’s More

1 day ago
Sango, President Faustin-Archange Touadéra

The Central African Republic Unveils Sango Project, Disappoints The World

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.