The intense noise Bitcoin has experienced this year has boosted more than just its price. As the world’s largest cryptocurrency approached its peak of all time, the eyes of the whole world seemed to be focused on Bitcoin.
This is most evident when analyzing posts on social networks that show that there has been a huge increase in public attention this year.
According to data from the analytical company Visibrain, in 2021 there were 101 million tweets containing the word “bitcoin”.
This represents an increase of 350% compared to the amount recorded in 2020.
The sharp rise in the amount of social media attention that Bitcoin has received over the past year could be explained by the increase in the number of people generally becoming aware of cryptocurrencies. However, large market developments can also be a major contributing factor. Every month this year, the crypto industry has been hit by big news that has significantly affected the price of Bitcoin. In early February, social networks were on fire for mentioning Tesla’s $ 1.5 billion purchase of BTC. In March, the company announced it would accept Bitcoin as a payment, sparking another jump in mention.
The sharp jump was surpassed just two months later when it suspended the purchase of BTC. That same month, Chinese Bitcoin miners experienced an exodus from the country, sparking another avalanche of social media.
The summer was marked by El Salvador’s efforts to introduce Bitcoin as a legal tender, which sparked the same amount of media attention as the passage of the law in September.
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