Better bromance than Bitcoin and Twitter? The intense bull run Bitcoin experienced this year pushed more than just its price up. As the world’s largest cryptocurrency, Bitcoin was the main focus of everyone’s attention as it neared its all-time high. So, people talk about it.
The increase in attention is most evident in social media posts, which showed a huge increase in the amount of attention it got from the public this year.
2021 Twitter’s Bitcoin report
As we approach the end of 2021, data from Visibrain reveals that there are about 101 million tweets containing the word bitcoin. This means it is an increase of 350% from the volume of the Bitcoin recorded in 2020.
The sharp increase in the amount of social media attention Bitcoin has gotten over the past year could be explained by the increase in the number of people becoming aware of crypto in general. But the huge movements in the market could also be a major factor contributing to this. Every month this year, the crypto industry was hit by major news that swayed Bitcoin’s price significantly. At the beginning of February, social media was ablaze with mentions of Tesla’s $1.5 billion BTC purchase. Amazon’s announcement that it was going to start accepting Bitcoin as a form of payment caused another surge in mentions.
The sudden spike in BTC prices was surpassed only two months later when it temporarily suspended BTC purchases. That same month, Chinese Bitcoin miners experienced an exodus from the country, sparking another social media avalanche.
The summer was marked by El Salvador’s push to introduce Bitcoin as a legal tender, generating the same amount of media coverage as the passing of the law in September.
