Social media continues to thump industries in profound ways. One such leading industry is cryptocurrency and blockchain technology. Much of cryptocurrency growth and popularity can be attributed to social media. Bitcoin, the pre-eminent coin in the market having a leading edge in the race of obtaining the apex point has spread its presence on every possible social media platform in order to dominate the portfolios of the investors.
From forums to mainstream social media channels like Facebook, Twitter, Pinterest, Instagram, and others, Bitcoin and other cryptocurrencies are trending. Social media is, of course, a no brainer, yet an influential medium for people to get their news.
This has led to the popularity and growth of the digital currency. This is nothing new to marketers. For example, Facebook is one of the most popular social ad choices to reach a large target audience.
In fact, Facebook is also considering cryptocurrency for business growth. “Facebook, with over two billion monthly active users, can basically drive the mass adoption of anything.”
Growing Impact of Facebook on Bitcoin and its existence:
The above graph by rating token shows that the weekly activity rate, according to the Facebook data entry in the past week, the increase of the statistics of the follower, the number of fans of the day, and the number of comments of seven days, the number of praises and the number of forwards, etc. (Max. Score 5) the higher the weekly activity, the higher the attention of Facebook last week, the stronger the fan activity of the platform.
Therefore, the above line graph movement shows that in the last one month it has been moving between 3.5 – 4.0, which is a commendable movement on the scale of 5. We see that by the end of March it had the least viewers ranging around 40,000 and as per today’s date we see that the daily activity on Facebook and the number of followers go hand in hand and collide which shows that Facebook brings a lot of footfall towards the awareness and potentiality of Bitcoin.
Will social media continue to influence the future of cryptocurrency and majorly Bitcoin?
This will happen for sure since social media influences just about everything. However, digital currency and blockchain technology have begun to make their own mark in the social space.