The strong bull runs the crypto market has seen this year drove Bitcoin price to an all-time high (ATH) of $ 69,000 on November 10, with all eyes on the world.
This becomes most evident when analyzing social media posts, which show that public interest has increased significantly this year.
Follow Data There were 101 million tweets with the word “Bitcoin” from the analytics firm Visibrain in 2021, an increase of 350% compared to 2020.
Number of tweets with the word “Bitcoin” from January 2009 to December 2021 | Source: Twitter
Bitcoin’s surge in social media attention this year can be attributed to an increase in the number of people doing general research on cryptocurrencies. Large market fluctuations can also contribute to this.
Almost every month this year, the crypto industry receives important news that has a significant impact on the price of bitcoin. Social media exploded in early February when Tesla bought $ 1.5 billion in BTC. In March, Tesla announced it would accept Bitcoin as a form of payment, which led to another spike in mentions.
The popularity was surpassed just two months later when Tesla stopped buying bitcoin. In the same month, China’s bitcoin miners saw a mass exodus that sparked another boom in social media.
Events correlating with an increase in Twitter mentions of “Bitcoin” in 2021 | Source: Twitter
The summer sparked the impetus from El Salvador to adopt Bitcoin as a legal currency, and garnered as much media attention as it did when the law was passed in September.
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