This is the most attention Bitcoin has ever garnered on Twitter. Bitcoin’s year-long bull run boosted more than just its price. As the world’s biggest cryptocurrency edged closer to its all-time high, the whole world’s gaze seemed to be fixed on Bitcoin.
This is particularly clear when evaluating social media postings, which reveal a dramatic rise in the amount of public attention it received this year.
According to statistics from analytics firm Visibrain, there were 101 million tweets in 2021 that included the term “bitcoin.” This is a 350% increase over the amount reported in 2020. From January 2009 to December 2021, this graph depicts the number of tweets using the term “bitcoin.”
The dramatic spike in social media attention Bitcoin has received over the last year might be explained by the growing awareness of cryptocurrency in general. However, the market’s massive swings may also be a significant part in this. Each month this year, the crypto sector has been slammed with big news that has had a huge impact on Bitcoin’s price. At the start of February, social media was abuzz with talk about Tesla’s $1.5 billion Bitcoin acquisition. In March, the firm announced that it will begin accepting Bitcoin payments, resulting in another rise in comments.
Two months later, when it banned BTC purchases, the steep surge was exceeded. In the same month, Chinese Bitcoin miners fled the nation, precipitating another social media avalanche.
The graph below illustrates the events that correspond to the 2021 surges in “bitcoin” mentions on Twitter (Source: Twitter)
The summer was defined by El Salvador’s effort to legalise Bitcoin, which garnered the same level of media attention as the law’s passage in September.
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