Bitcoin's Monthly Tweet Volume at its Highest Since March 2018 16

Bitcoin’s Monthly Tweet Volume at its Highest Since March 2018

In brief:

  • Bitcoin’s monthly tweet volume has spiked to levels last seen in March 2018
  • December has seen roughly 1.3 million Bitcoin tweets
  • Bitcoin tweets are surging and increasingly coming from unique users
  • Bitcoin posted another all-time high of $29,300 with $30k within sights
  • Bitcoin’s fear and greed index continues to plateau above 90 with current levels at 95

Discussions surrounding Bitcoin on the social media platform of Twitter have reached levels last seen in March 2018. This is according to data shared by the team at eToro US who also pointed out that December has seen over 1.3 million Bitcoin tweets. The team at eToro shared this information via the following tweet.

More Bitcoin Tweets are Coming from Unique Users

Furthermore, data from the team at The Tie has highlighted that a high percentage of these Bitcoin tweets are coming from unique users. They shared this information via the following statement and accompanying chart demonstrating the increment of tweets from unique Twitter accounts.

The percentage of #Bitcoin tweets coming from unique Twitter accounts is at an ATH. Not only are the number of tweets about Bitcoin surging, they are increasingly coming from unique users.

Bitcoin's Monthly Tweet Volume at its Highest Since March 2018 17

Bitcoin Posts A New All-time High of $29,300

At the time of writing, Bitcoin is trading at $28,400 after posting a new all-time high of $29,300 earlier today. The new all-time high is only $700 dollars away from the highly anticipated $30k price of Bitcoin that many believe will be a proper way of ending 2020 and beginning 2021.

Fear and Greed Index Still Above 90

A quick glance at the fear and greed index reveals that it is about to complete a second month above the 90 value mark. At the time of writing, the fear and greed index is at 95 indicating that traders and investors are generally bullish with many expecting Bitcoin to hit the earlier mentioned $30k price level.

However, Bitcoin’s monthly and yearly close is only a few hours away and this event could bring high volatility as BTC bears attempt to erase gains made in the last few weeks.