People Talk Too Much About Bitcoin on Social Media but Won’t Buy It

To promote Bitcoin at its start, Nakamoto built an email list of 2,000 subscribers and became active on forums like Bitcoin Talk.

According to Santiment, Bitcoin's Social Dominance metric has jumped yearly high. As the Bitcoin price has slipped below the 20,000 level, interest in Bitcoin (BTC) is rising and discussions over other crypto topics have faded. Historically, this has been considered a good sign for Bitcoin as well as the crypto market. 'Bitcoin' emerged as the most mentioned cryptocurrency in terms of social media conversations among Twitter Influencers and Redditors in 2021, according to GlobalData's SMA platform.

Elon Musk's power tweets

Mentions by technical experts, blockchain experts, CEOs, and fintech experts have been found to be more impactful to drive discussions around crypto. Tesla CEO Elon Musk has proved to be one of the most influential contributors to the crypto market and has played as a catalyst for top cryptos such as Bitcoin and Dogecoin.

It all started on forums and email lists

To promote Bitcoin at its start, Nakamoto built an email list of 2,000 subscribers and became active on forums like Bitcoin Talk. The first-ever bitcoin transaction happened in 2010 via Bitcoin Talk when one user bought 2 pizzas for 10,000 bitcoins. Those bitcoins are worth 67 million dollars as I'm writing this article. At the recent peak of Bitcoin's value, they were worth around 200 million dollars.

Cryptocurrency is a very broadly classified topic. It is a virtual currency. A currency that could be considered relevant and real in the form of "virtual coins". Halaburda (2018) Cryptocurrency is a concept that works on a decentralized ledger. Some of the most famous cryptocurrencies are Bitcoin, ADA, Dogecoin, Ethereum, etc. The development and interest were basically brought about by news stories that revealed the exceptional returns of digital currencies, which in this manner pulled in a kind of dash for unheard-of wealth.

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