A lot has been said about bitcoin’s next direction since it started an upward trend that saw it reach a peak price of $34,000. Many predict that because of its limited supply, the bullish trend would continue while others are geared up for a price correction.
Whichever the case may be, the crypto community has recorded a major win from the recent bull run. More people have gained knowledge of the digital gold in this period more than ever, more institutions have embraced bitcoin in this period more than ever, and more naysayers have become enthusiasts because of the hype surrounding the bull run.
The bitcoin frenzy on social media currently remains unparalleled in the history of the digital asset. In the past couple of days, bitcoin has staked a claim on the worldwide Twitter trends chart due to the buzz generated by the price surge. It is therefore not surprising that the number of tweets about bitcoin surpassed 92,000 last year. According to The TIE, this data eclipsed the previous high recorded in mid-January 2018.
The TIE which is an independent body that tracks and shares crypto data shared late last year that about 50,000 unique Twitter accounts tweeted about bitcoin on 16th December. Today, this number has spiked and eclipsed the 2017 all-time high. The tweet by the TheTIEIO reads:
“ The number of unique Twitter accounts tweeting about #Bitcoin has just hit an all-time high of 66,832, surpassing the previous high of 64,652 set on 12/27/2017.”
The bitcoin tweet volume was yet another record that was broken today. Emerging stats show that there have been over 140,096 tweets about bitcoin over the last 24 hours; a figure that surpasses the previous record of 135,540 set in December 2017.
This number of unique users joining the conversation further lends credence to the influence of the price surge. It buttresses the fact that the next price trend matters little at this point. The social media buzz and the emergence of new institutional and retail investors and enthusiasts provide more than enough prime points to make up for any price correction.