The Evolving Relationship Between Social Media and Cryptocurrency

Social media has become a valuable influencerBlockchain and cryptotech. Social forums and platforms like them have played a key role in the company’s growth. It seems that the relationship is in an exciting cycle. Let’s examine the changing relationship between cryptocurrency and social media, and how it will impact the future.

Social Media introduced Bitcoin Transaction

A forum was the place where the very first crypto trade took place. However, it would take many years before cryptocurrency became mainstream. 

Until bitcoin became a mainstream phenomenon, the big guys like Overstock.com and Microsoft wouldn’t have dared to dip their toes into the waters. It’s not hard to understand why. That first transaction saw the currency traded for 0.06c. Today, buying Bitcoin on a cryptocurrency exchange like OKExYou will pay in the lower five figures

What The Relationship Does

Trending is cryptocurrency. This is thanks to social media. The digital channels are forced to make use of their networks to connect with others. Facebook, Instagram Twitter, Pinterest, and Twitter don’t want to get left behind while the rest of the world tries to grasp how this new type of money impacts us. Facebook has even begun to consider cryptocurrency as a way of growing its business.

It shouldn’t be surprising. Social media is the best marketing tool anywhere. Everyone who doesn’t get on board will soon be in the shadows.

The Social Pudding is proof

No evidence is stronger that cryptocurrency and social media are inextricably linked. It’s no secret that cryptocurrency prices have fluctuated because of the influence of social media. Bitcoin value plunged 26% after Bitfinex was hacked from Hong Kong.

The current situation

For those who are deeply involved in blockchain technology and digital currencies, social media plays a vital role. Investors and curious alike turn to social media and forums for the latest news.

Reddit can link the social growth of Bitcoin to Reddit. Reddit provided insights to enthusiasts and analysts long before detailed information was available on Bitcoin subreddit. These influencers include CryptoCurrency, DarkNetMarket, CryptoCurrency, and CryptoMarkets.

Reddit and Telegram are used by cryptojournalists to share and organize information about blockchain news and trends. It’s well-known that Reddit has been responsible for most of the blockchain and cryptocurrency revelations on social media.

The future of the relationship

However social media is influencing bitcoinThe reverse can also be true with blockchain and cryptocurrency movements. Steemit is a platform that proves it. Steemit content creators get paid through the platform and not via advertisements. For content users enjoy, they pay a fraction and the author receives it. 

Steemit can be used by anyone. Everyone has the chance to make a steady income and connect with others without having to pay PPCs and ads.

This is a continuing shift in the balance. The number of crypto social networks is growing. They are adapting and improving on traditional social networking tools for users as well as businesses. It is happening at lightning speed.