The word Bitcoin appears in hundreds of millions of tweets on Twitter in 2021! The price of 48,000 U.S. dollars becomes the key

Data from the analysis company Visibrain on Tuesday (28th) showed that the word Bitcoin appeared in 101 million Twitter tweets in 2021, an increase of 350% from the number recorded in 2020.

The huge volatility of the market is the main reason that Bitcoin has received social media attention. In February of this year, Tesla announced that it had purchased $1.5 billion worth of Bitcoin. In March, it announced that it would accept the purchase of cars in Bitcoin. Community attention has surged.

Less than two months later, Tesla Chief Executive Musk announced in mid-May that it would suspend Bitcoin car purchases on the grounds that Bitcoin caused great environmental costs. In the same month, after China blocked Bitcoin, Bitcoin miners fled and set off. Another wave of social media discussions. At the beginning of September this year, El Salvador officially used Bitcoin as legal tender, which again attracted the attention of the world.

Looking ahead to 2022, Wall Street analysts believe that cryptocurrencies will fluctuate due to three major factors including custody, security, and supervision.

The bulls in the currency circle predict that cryptocurrencies will continue to grow in 2022, but the bears believe that government supervision will be strengthened in the next year, all virtual currencies will face a series of problems, and many meaningless cryptocurrencies will be terminated.

Luno Vice President of Corporate Development and International Vijay Ayyar said that there is nothing to worry about for Bitcoin in general. As long as the US$48,000 to 49,000 mark is maintained, the outlook for Bitcoin remains positive.

Katie Stockto, founder of Fairlead Strategies, said that based on Fibonacci retracement analysis, Bitcoin's next support level is around $44,200. $50,000 is not very important, but it does have psychological significance. Bitcoin is in the process of integration. At this stage, it seems to be responding to the short-term "overbought" situation.