How Social Media push Bitcoin on

Since that very first fateful purchase of two pizzas on the social network forum BitcoinTalk, the fame of the most advanced digital currency never stops sprouting. Although the order was not processed through Facebook or other more popular social media, it pushed Bitcoin to become what it is now, giving the currency only more strengths.

Today Bitcoin is being discussed in all of the world`s biggest media, it is the main subject of many books, documentaries, and articles on a regular basis. The fact that two pizzas could be priced at 10,000 Bitcoins, which is now millions of dollars, became a phenomenon and only caused more noise and interest from famous figures on the financial market, same as from simple people around the world.

Why Twitter

Lately, there are hardly any fields that haven’t had an impact on social media. Blockchain and cryptocurrency are the ones that are being affected by social networks the most. The terrific rise of Bitcoin and other digital currencies' prices is pretty due to social media platforms. There is no doubt that social networks contributed a lot for Bitcoin to be approved by many government authorities and is accepted as a form of payment in almost every country.

Jack Dorsey recently announced his intentions to integrate Bitcoin into Twitter to give users the opportunity to send each other Bitcoins and other cryptocurrencies. The world of blockchain and Bitcoin continues to develop while social media platforms help it to become closer to the public’s daily life. It’s pointing to Bitcoin and social networks becoming more bound, causing the price of Bitcoin to skyrocket.

Why Blockchain

Blockchain is considered to be one of the most complex fragments of Bitcoin, still many predict it to be the future of all social networks.

Whether you register on Facebook, Twitter, or TikTok, your personal data could be easily hacked, stolen, or sold. Social media information is lacking security, which Blockchain can guarantee.  A social media platform based on blockchain technology can promise its users to have their personal information secured. It is also preventing owners of the platform from getting revenues from users' data.

Why social media

Different statistics show that two-thirds of the population get their daily news from social networks. Meaning that when Bitcoin price changes, the trend on Twitter, Facebook, and LinkedIn rises.

With the possible Bitcoin implementation into Facebook and Twitter in the nearest future and news around it, the potential of Bitcoin is only increasing, pushing its price on. Twitter and Facebook together are great enough to drive Bitcoin to mass adoption around the globe, making every small grocery shop next to your home, and famous big enterprises accept payments in Bitcoin.

Without a doubt, Bitcoin prices can go down, and social networks can become a double-edged weapon in trending and pushing the price even lower.

How do FOMO and FUD influence our purchases?

Fear of Missing an Opportunity and Fear, Uncertainty, and Doubt spreading around all the social media platforms can affect any investor`s mind, doubting whether to buy, sell or just hold.  This psychology is most commonly used to form the necessary opinion of the audience. This psychological manipulation is usually done by information fields to create the necessary trends.

While using any social media platform it is important to double-check any information that comes through you, not allowing any network to mislead you. Besides, keep in mind the scamming schemes experienced hackers can use to get you into their trap.

To be safe and better informed it is necessary to be educated in the field of Blockchain and Bitcoin. Only this way your investments or trading positions will bring you profit no matter what the Bitcoin trend is today.