Twitter is just a part of media like print / electronic or social media including Facebook; linkedin ; You Tube etc. And each type of report on any type of media has effect on the price of bitcoin. When there are positive news the price goes up and in case they spread negative news then the price falls.
simple answer, but in reality, every media has the same influence on the value of bitcoin. but the rhetoric of thesis writing about the influence of twitter on the crypto world will be more scientific if you use a lot of references, so it's not just twitter, but all media, including panic.