Yes of course, because bitcoin social media is becoming popular around the world and almost everyone is using it. I myself also recognize bitcoin and cryptocurrency from social media, until I arrived at this forum. so the role of social media is essential for bitcoin growth
Definitely it influences in both direction, positive and negative. When prices were going up, many people heard from social media accounts and started to buy. Now social media messages mostly about last crash, so this time it is influencing in a bad way to cause people for panic selling.