Social Media Interest In Crypto Is Cratering As Prices Slide

Social Media Interest In Crypto Is Cratering As Prices Slide
Andrew Rummer

over 2 years ago1 min

Mentioned in story

As bitcoin languishes more than 50% off the highs it set in April, crypto-focused social media accounts are finding it harder to attract new followers. 

The top panel of the chart above shows how major crypto Twitter accounts attracted fewer than 20,000 new followers last week, down from a peak of more than 350,000. The pattern mirrors bitcoin’s price – charted in the lower panel – unnerving closely. 

Google searches for “buy bitcoin” and “buy crypto” have also been tumbling in recent weeks.

Google trends search for "buy crypto"

Until the crypto community can attract fresh investor interest – whether via social media or web search – these trends suggest that bitcoin’s price may continue to struggle. 

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