More than only Bitcoin’s price has risen as a result of this year’s bull run. As the world’s most valuable cryptocurrency drew closer to its all-time high, all eyes seemed to be on Bitcoin.
This is particularly clear when looking at social media posts, which reveal a significant rise in the amount of public attention it received this year.
In 2021, there were 101 million tweets including the phrase “bitcoin,” according to statistics from analytics firm Visibrain.
This represents a 350 percent increase over the volume recorded in 2020.
The increase in the number of individuals becoming aware of cryptocurrency in general could explain the steep spike in social media attention Bitcoin has received over the last year. The market’s massive changes, on the other hand, could be a key contributor. Every month this year, the crypto industry has been slammed by huge news that has significantly influenced Bitcoin’s price. Social media was ablaze with mentions of Tesla’s $1.5 billion BTC purchase at the start of February. Another rise in mentions occurred in March, when the company revealed it would take Bitcoin as payment.
When it banned BTC purchases two months later, the dramatic surge was surpassed. Another social media avalanche erupted when Chinese Bitcoin miners left the country in the same month.
El Salvador’s drive to make Bitcoin a legal tender dominated the summer, garnering the same level of media attention as the law’s passage in September.
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