ZB Academy：The number of Bitcoin topics hit a new high on Twitter
Yesterday was a memorable day for everyone in the cryptocurrency field. Bitcoin finally broke through its all-time high and rushed to $20,000. A series of subsequent developments showed that the boarding of $20,000 this time is not a short-lived performance of the Bitcoin price. As of press time, according to the market data of ZB.com, Bitcoin is currently quoted at $22,914, a 24-hour increase of 5.45%, and a 24-hour maximum price of $23,740.
Since the price performance of Bitcoin this time is undoubtedly a surprise to everyone, the keyword “Bitcoin” has also appeared in the hot search on Sina Weibo. According to data from Sina Weibo at 22:35 Beijing time yesterday, “Bitcoin” was on the Weibo hot search list, ranking 19th in the hot search, with 752062 topics. At 17:39 yesterday, the keyword “Bitcoin rose above the $23,000 mark” also appeared on the Weibo real-time rising hot list, with a popularity value of 10279.
In addition to Weibo, China’s largest social media, the number of tweets on “Bitcoin” related topics also broke a new high on Twitter. According to social media data collected by The TIE, the number of tweets about Bitcoin yesterday reached the highest level since mid-January 2018, exceeding 92,000. The last time a tweet about “Bitcoin” broke historical records was on January 17, 2018. At that time, the price of Bitcoin began to plummet from the historical high at that time, triggering discussions among many netizens. Throughout most of 2020, the rise of Bitcoin has been the focus of relevant discussions. This discussion focused on institutional investors investing a lot of money in Bitcoin, including Stanley Druckenmiller, Guggenheim’s Scott Minerd, etc. But the signal that Twitter activity is close to a record level shows that Bitcoin retail investors have not fallen behind. Aubrey Strobel, the public relations director of Bitcoin rewards startup Lolli, said that before, many people thought that the recent bull market was driven by Wall Street’s participation. But all the signs yesterday showed that this bull market was actually driven by ordinary people, especially on Twitter. Judging from the data on The TIE website, this time it is not only the increase in Bitcoin-related tweets, but the number of Twitter accounts related to Bitcoin has also increased significantly.
Some analysts expressed their views on the Bitcoin bull market. He believes that Bitcoin’s breakthrough of $20,000 does not mean the end, but “opens a valve.” According to ZB.com’s transaction data, the USD price of Bitcoin broke through the critical psychological threshold of USD 20,000 in early trading yesterday and continues to rise. The pattern displayed shows that this is a sign of the long-term suppressed demand for Bitcoin, and this is not a “seemingly random” indicator.
As mentioned above, the Bitcoin bull market will surely attract extensive discussion, and of course there is no shortage of banking. There is news that a large number of traditional banks are now boldly trying to launch cryptocurrency-related services. Among them are Paypal, DBS Bank, Standard Chartered and Gazprombank that have been reported previously. In the same week that DBS Bank announced the news, the Swiss digital exchange SDX stated that it is cooperating with Japanese bank SBI Holdings to establish a digital asset exchange in Singapore, but this will not be ready until early 2022. In addition, there is also news that the well-known Spanish bank BBVA will also base its cryptocurrency business in Switzerland and use METACO’s custody technology.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com.