- Bitcoin’s Engagement on Twitter Tumbles to Two Year Lows
- Bitcoin (BTC) Breaks below the $8k Support Level
Bitcoin News Today – Over the past years, Twitter has become a major part of the digital currency space. The sentiment is usually evaluated by reactions from industry insiders and Bitcoin market analysts that spend their time on the social media platform. According to recent charts, the overall engagement of Bitcoin (BTC) has plunged back to two years lows.
Bitcoin’s Engagement on Twitter Tumbles to Two Year Lows
Recent data from charts are indicating that tweeters have gone silent on Bitcoin (BTC). The sardonicism is that the majority of what goes on in the digital currency world revolves around postings on a centralized social media platform. This might be a testament to the immaturity of the crypto space in that infantile bickering and tribalism are still common on the platform. The bottom line is that everyone wants the same thing, and that is the growth of the ecosystem of Bitcoin (BTC) and crypto assets for a decentralized financial future.
Bitcoin (BTC) Price Today – BTC / USD
Skew Markets recently tweeted that engagement for Bitcoin on Twitter has plunged to lows last seen two years ago. This might be the case for other digital currencies. However, BTC seems to have fallen out of flavor on Twitter.
Looks like the bottom is in for the Twitter counts – hodling the fort! pic.twitter.com/pbLP3Hzusv
— skew (@skewdotcom) November 20, 2019
The digital currency had more engagements when it peaked in early 2018. At that time, the daily tweet of the coin topped 150,000. Today, according to the charts, the daily tweets of Bitcoin are down to below the 20,000 level.
Has the Crypto Space Evolved Beyond Twitter?
It could be that the digital currency space has evolved beyond Twitter, which would be a good thing considering that the entire scene there is a bit of a circus. Unfettered spam, intrusive advertising, and scam attempts are common, and these factors do not make it the best stage for an industry that is pushing for the adoption of decentralized cryptos. Twitter controls people’s feeds and the entire stream of information is becoming irrelevant, which could explain why the engagements have been low.
Bitcoin (BTC) Breaks below the $8k Support Level
Bitcoin (BTC) bears are back in town, as the world’s most dominant digital currency continues its downward trend. Bitcoin has been struggling to hold gain over the past few days. The digital currency recently broke below the $8,500 support and tumbled towards the $8k mark. However, the $8k level prevented further losses and BTC price recovered slightly over the $8,200 mark. At the time of writing, Bitcoin price just broke below the $8k support level. The digital currency is currently trading at $7,995 after a decrease of about 2.5 percent over the past day.