Bitcoin’s X Popularity Hits New Highs With 65% Growth In 2024

2024-12-28 03:30

In 2024, Bitcoin experienced an extraordinary rise in popularity on the social media platform X, formerly known as Twitter. According to recent data, mentions of Bitcoin on X increased by 65% year-over-year, with users publishing over 140 million tweets about the cryptocurrency.

This uptick reflects a growing interest in Bitcoin, driven by significant developments in the market and a vibrant community of investors and enthusiasts.

Major Events Fueling Interest

This spike in Bitcoin-related discourse occurred at a time when critical events were unfolding in the crypto space. In the first quarter of the year, the US Securities and Exchange Commission had granted its long-awaited approval for spot Bitcoin exchange-traded funds.

The ETF complex raised over $110 billion in assets within a short time, even more than that attributed to Bitcoin’s enigmatic creator, Satoshi Nakamoto. Institutional acceptance in this way further legitimized the alpha crypto, attracting both new and old investors.

140 million posts containing the word “bitcoin” were published on X in 2024, an increase of 65% year over year.

H/T @visibrain pic.twitter.com/HmAxRRr4pB

— Jameson Lopp (@lopp) December 26, 2024

But with time, the enthusiasm about Bitcoin kept oscillating. The buzz subsided in February, then rose again in November due to the election of Donald Trump as US President, promising America would be the epicenter for cryptocurrency innovation.

Bitcoin again picked up pace when it reached a new record high of $108,000 in early December and breached a crucial psychological threshold.

Market Factors And Challenges

Despite the euphoria, the price of Bitcoin has come under pressure lately. As of late December, it traded at around $95,000, which indicated potential pullback after the holiday season. Analysts have warned of a possible decline if some critical support levels are broken.

Crypto trader Ali Martinez warned that Bitcoin could fall by nearly 27% if it fails to hold above key price points.

It’s not lost to anyone that substantial outflows from US spot Bitcoin ETFs have lately touched $1.5 billion. That has, at least to some extent, sowed uncertainty in the institutional investment community.

That again indicates broader trends within the crypto sector. Though bitcoin manages to remain resilient, its recovery path is going to heavily depend on maintaining support above crucial levels.

Future Of Bitcoin On X

Under Elon Musk’s leadership, the platform itself is changing but discussions about Bitcoin still dominate X. While they are supposed to increase user engagement, new content methods could also impact the spread and viewpoint of crypto-related content.

Featured image from PCMag, chart from TradingView

origin »

Bitcoin (BTC) на Currencies.ru

$ 93949.31 (+0.03%)
Объем 24H $27.965b
Изменеия 24h: -0.72 %, 7d: -4.24 %
Cегодня L: $92884.24 - H: $94232.18
Капитализация $1860.589b Rank 1
Цена в час новости $ 94207.67 (-0.27%)

bitcoin 2024 popularity year-over-year increased recent data

bitcoin 2024 → Результатов: 126


Why Bitcoin (BTC) Was the ‘Single Biggest Winner’ of the 2024 US Election

The Kobeissi Letter highlighted Bitcoin’s substantial gains following the 2024 U. S. election. It states that the crypto emerged as the “single biggest winner. ”  Moreover, with pro-crypto candidates securing prominent victories, Bitcoin and the crypto sector as a whole appear to have received a political boost, gaining further legislative support.

2024-11-12 10:30


Сможет ли Трамп выполнить свои обещания биткоинерам?

Пожалуй, самым громким предвыборным ходом Дональда Трампа (Donald Trump) стало его выступление на конференции Bitcoin 2024, украшенное таким букетом обещаний, от которых у биткоин-максималистов закружилась голова.

2024-8-3 18:23


Америка на биткоине: Кеннеди планирует сформировать стратегический запас криптовалюты

Независимый кандидат в президенты США Роберт Кеннеди-младший (Robert F. Kennedy Jr. ) решил сыграть ва-банк в предвыборной гонке. На конференции Bitcoin 2024 он выступил с речью, от которой у криптоэнтузиастов должно было перехватить дыхание.

2024-7-27 11:13


Bitcoin Price Boost Ahead: CEO’s Bold Prediction Points To 10 US States Adopting Pro-BTC Laws In 2024

In a recent statement, Dennis Porter, the co-founder and CEO of Satoshi Action Fund, expressed his belief that the year 2024 will mark a crucial turning point in the history of Bitcoin.   Porter’s remarks amidst growing anticipation surrounding the approval of spot Bitcoin exchange-traded funds (ETFs) and the highly anticipated halving event scheduled for April 2024.

2023-11-23 04:00