[heading]Bitcoin & Silver In Tweets & Trends[/heading]
The month of June saw a steady increase in Twitter mentions of “bitcoin” with a steep drop off on July 1. The increase, however, as can be seen below, was indeed formidable. According to Google Trends, interest in terms of Google searches remained level, despite ending near the top-end of its one month chart.
Tweets of “Bitcoin”
Tweets of “Silver”
Tweets of “silver” – for silver bullion – were wildly volatile this month, just as the price of silver was. Still, silver was generally tweeted much more often than is Bitcoin over the past month. As its June lowend was still many thousand tweets more than silver.
Bitcoin Google search trends were off its March highs, showing much more personality as a chart thereafter than hitherto. In June, despite numerous high profile stories, the number of Google searches remained steady.
Hittings its three year nadir, interest in silver has also waned.
The price of Bitcoin, on the other hand, had done something much different than both these charts show. Off from a price of $120 at the beginning of the month, it had been a tough June for Bitcoin by the end. Its price likely muted by the constant mumbling of legislation and so on. Of course, legislation is not the end of the Bitcoin world, but it does stress the ecosystem out in the meantime.
Silver, on the other hand, has retraced its steps dating back to 2011, with considerable support at the $18.50 level. With gold taking quite a beating on Wedneday-Thursday, silver remained steady, and now does not seem like $20 will give it much resistance. Still, with a market collapse, precious metals will be sold for cash.