Crypto twitter is composed mostly of speculators, not actual users of Bitcoin. So, at least for me it is not a gauge for the adoption rate, but for the greed/fear in the market.
One of the institutional trading strategies is to make people think an asset is not good anymore, or it is less popular, etc. while they accumulate. Guess what happens then.
I don't even watch this kind of analytics. They are superfluos if you ask me.
Topic: BTC Twitter Mentions Dropped To 2 Year Low (Read 230 times)
I have a twitter account that regularly mentioned bitcoin automatically everyday.
my account is clean from banned, limitations, or anything that against twitter ToS.
however, when I search on the twitter search feature, my tweets didn't show up.
anyone here got the same issue as me? or twitter just limited bitcoin words?
my account is clean from banned, limitations, or anything that against twitter ToS.
however, when I search on the twitter search feature, my tweets didn't show up.
anyone here got the same issue as me? or twitter just limited bitcoin words?
Researchers from the Santiment team recorded a weakening of interest among Twitter users in bitcoin. The number of posts mentioning the largest cryptocurrency fell to a two-year low.
This trend is a direct result of the recent drop in the value of BTC, analysts say. Recall that in September Bitcoin could not gain a foothold above $ 12,000 and fell in price to $ 10,000.
Does it really matter if there is a lack of interest among twitter users, they are many popular websites and how about google searches during this exact period, i bet search engines will be having higher numbers, see the numbers when the price of bitcoin starts to rise, if there is any major changes then people start to tweet about it. I assume that the trend right now is DeFi and exchange hacks This trend is a direct result of the recent drop in the value of BTC, analysts say. Recall that in September Bitcoin could not gain a foothold above $ 12,000 and fell in price to $ 10,000.
. If the article writer was right, I'm really not surprised due to the huge hype around this "defi" thing. Funny thing is, it ain't even new! The Ethereum people on Twitter just simply made up a new hype phrase for their token ecosystem.
I feel like they're trying to pump a new thing every few years.
ICOs, IEOs, Defi... any name is good to make money and every time there's a flock of enthusiastic followers that come from god knows where and later complain on the forums and social media how much they lost on this new big thing.
I'm happy there's not much twitter hype for bitcoin. Usually twitter hype equals FUD and scam like it was with cloud mining and many other.
This year we are going to see DeFi hype and already many DeFi projects have gained lot of attention and people are happy to invest in them.
Once bitcoin will cross 12,000K, i think we will see more tweets and posts about it on social media like twitter etc. It just a matter of time when bitcoin will be trending again as it happened in 2017.
The hype and interest may not be similar to 2017 but still there will be many people investing in bitcoin when it will be near all time high.
Fear and greed index is one way to know about the people mindset.
We are all familiar with the word propaganda. I sincerely believe that the more you promote something, the more it will grow in value. Suppose you have produced a good quality product, but ordinary people know nothing about your product. Then surely your product will not find a good market. It seems to me that the mention of Bitcoin on Twitter is declining. Doesn't this mean that people are losing interest in Bitcoin?
No, people have not lost interest in bitcoins. If that was the case then we would have seen decline in bitcoin prices but the prices are stable even after the news of Kucoin exchange hack. Investors and traders are holding bitcoin for the next bull run.
We are all familiar with the word propaganda. I sincerely believe that the more you promote something, the more it will grow in value. Suppose you have produced a good quality product, but ordinary people know nothing about your product. Then surely your product will not find a good market. It seems to me that the mention of Bitcoin on Twitter is declining. Doesn't this mean that people are losing interest in Bitcoin?
I think not, in that case, people might already be used to bitcoin which is still good. If it is not a trend in a day, it doesn't mean that people is not using it. Here's an analytics from an unreliable source, it indicates that Uniswap is quite having more mentions than Bitcoin lately. But looking up to the usecase of Uniswap, there will be more efficient decentralized trading platform coming up soon. Meaning, the ranking top mentions to platforms is not a guarantee for something to succeed. It just build hype that pass over time, but what is important to that hype is when it last long and forever just like what bitcoin is, right now.
We are all familiar with the word propaganda. I sincerely believe that the more you promote something, the more it will grow in value. Suppose you have produced a good quality product, but ordinary people know nothing about your product. Then surely your product will not find a good market. It seems to me that the mention of Bitcoin on Twitter is declining. Doesn't this mean that people are losing interest in Bitcoin?
If the article writer was right, I'm really not surprised due to the huge hype around this "defi" thing. Funny thing is, it ain't even new! The Ethereum people on Twitter just simply made up a new hype phrase for their token ecosystem.
I feel like they're trying to pump a new thing every few years.
ICOs, IEOs, Defi... any name is good to make money and every time there's a flock of enthusiastic followers that come from god knows where and later complain on the forums and social media how much they lost on this new big thing.
I'm happy there's not much twitter hype for bitcoin. Usually twitter hype equals FUD and scam like it was with cloud mining and many other.
This year we are going to see DeFi hype and already many DeFi projects have gained lot of attention and people are happy to invest in them.
Once bitcoin will cross 12,000K, i think we will see more tweets and posts about it on social media like twitter etc. It just a matter of time when bitcoin will be trending again as it happened in 2017.
Researchers from the Santiment team recorded a weakening of interest among Twitter users in bitcoin. The number of posts mentioning the largest cryptocurrency fell to a two-year low.
The Santiment review says that typically, a drop in interest from Twitter users in Bitcoin precedes a sharp increase in volatility in the crypto market.
This is the trend that was observed before the March fall in BTC ("Black Thursday"). Then, on the contrary, positive sentiment dominated among Twitter users. However, instead of growth, the market crashed.
Hm, I wonder if it's really the case with tweets and if the rough number of tweets is the right way to measure BTC popularity. Regarding the former, I don't trust research that's done only by one company of which I'm not aware. It doesn't look good that there's no information in English about it. And I can see from other posts in this thread that their methodology should also be questioned. Moreover, even if we look at Twitter and Bitcoin mentions, I think what matters is not the number of posts, but something more subtle, like the number of engagements with posts about Bitcoin (a post made by Rowling or Musk is one thing, and 100 posts made by some no-names is totally another). And if something was observed once, it's not a trend and there's even no correlation to report. The Santiment review says that typically, a drop in interest from Twitter users in Bitcoin precedes a sharp increase in volatility in the crypto market.
This is the trend that was observed before the March fall in BTC ("Black Thursday"). Then, on the contrary, positive sentiment dominated among Twitter users. However, instead of growth, the market crashed.
If the article writer was right, I'm really not surprised due to the huge hype around this "defi" thing. Funny thing is, it ain't even new! The Ethereum people on Twitter just simply made up a new hype phrase for their token ecosystem.
I feel like they're trying to pump a new thing every few years.
ICOs, IEOs, Defi... any name is good to make money and every time there's a flock of enthusiastic followers that come from god knows where and later complain on the forums and social media how much they lost on this new big thing.
I'm happy there's not much twitter hype for bitcoin. Usually twitter hype equals FUD and scam like it was with cloud mining and many other.
Researchers from the Santiment team recorded a weakening of interest among Twitter users in bitcoin.
the number of tweets per day mentioning bitcoin is not a representative of twitter users' interest in bitcoin. most of the times it is about what hype is going on specially when it is being compared with 2 years ago (2017 and 2018) when the hype of the big rise and the hype of the big drop were huge.additionally a lot of the tweets mentioning bitcoin were actually advertising some shitcoin or some ICO and were asking people to pay them in bitcoin or didn't even have anything to do with bitcoin. obviously now that is almost dead so the spam is also dead.
I never paid attention to these lagging indicators like google trends or twitter mentions. They have immeasurably small influence on the market. Twitter mentions are down because Bitcoin's price isn't showing some amazing performance like in 2017, but it won't be crashing because Twitter mentions are down, there's no feedback loop here.
I bet BTC Twitter mentions were through the roof in the beginning of 2018, but was it a good time for BTC? Hell no. Bitcoin is now more popular than any time before, and fck twitter anyway, it's cancer in our world's ballsack 
So the decrease of bitcoin mention in twitter may mean that the people interested about it is also decreasing. I just hope that this really isn't the case and that the decrease of mention means nothing more.
You don't have to worry too much that there is supposedly less interest in Bitcoin on Twitter, because as I wrote in the previous post the attention is directed in a different direction similar to the case of 2016/17 after halving with ICO, we now have DeFi. People always follow the line of the least resistance, they want to invest in something cheap that could supposedly bring them big profits in a short time - and the story of BTC halving as a magical moment after which the price of BTC will go up in the sky is become a thing of the past.
While seemingly ordinary people are not interested in BTC, large companies like Grayscale or Micro Strategy buy fairly large quantities of BTC because they recognize the moment to invest. Those who seek investment advice on Twitter and other social networks are actually wasting their time...
I tried to do cross-checking with Google trend and used two keywords (see below). I narrowed down data to last 5 years. It seems the Google Trend charts show currently, statistics are in bottom range (click on links to see charts).
Google Trend has many bias factors and some delayed effects but it reflects general trend of interest in community. From those charts, it seems the latest halving of Bitcoin help it gets more momentum that in turn help its price has tried to reach $14k range. Positively, if consider the interest in community has not yet increased too much (still in bottom range), the chance to see more exponential growth next year is good.
Base on history, BTC price usually takes off one year after its halving days. Please think positively about the findings.
Google Trend has many bias factors and some delayed effects but it reflects general trend of interest in community. From those charts, it seems the latest halving of Bitcoin help it gets more momentum that in turn help its price has tried to reach $14k range. Positively, if consider the interest in community has not yet increased too much (still in bottom range), the chance to see more exponential growth next year is good.
Base on history, BTC price usually takes off one year after its halving days. Please think positively about the findings.
I don’t think bitcoin's success or lack of it depends much on Twitter users. Most people who spend all their time on social media are broke so wouldn’t add much.
We’re aiming for mainstream adoption but losing mentions on Twitter isn’t going to be harmful.
We’re aiming for mainstream adoption but losing mentions on Twitter isn’t going to be harmful.
Because it really isn't. It's just somewhat of a small indicator of bitcoin's interest from the masses. Though this indicator really isn't that accurate and also taking note that Twitter is probably just a small portion of the whole picture so this shouldn't be taken THAT seriously. This should just be treated as a sort of "fun fact", completely assuming that it's actually factual/accurate.
If you think about it deeply, the number of mentions about bitcoins in twitter decreasing is really quite serious. I mean, just think about it, when a star is famous, a lot of people are interested which then results to people talking about it anywhere especially on social media sites. So the decrease of bitcoin mention in twitter may mean that the people interested about it is also decreasing. I just hope that this really isn't the case and that the decrease of mention means nothing more.
I’m not sure if we’re interpreting the data correctly here … The source of the data is this Tweet: https://twitter.com/santimentfeed/status/1309544704028168193
Their website does not seem to provide further detail, so the Tweet seems to be all we’ve got. Now the chart on the Tweet shows the weighted social sentiment, which:
It is therefore a product of the two variables. Not sure how their z-score goes, but it seems clear to me that if the Sentiment tends to Neutral (0), the Weighed Social Sentiment will tend to be reduced, (more or less) outweighing the [Unique Social Volume]. That is what we are seeing here.
It’s a combined variable, and we therefore cannot see the underlying values for BTC Twitter mentions …
Their website does not seem to provide further detail, so the Tweet seems to be all we’ve got. Now the chart on the Tweet shows the weighted social sentiment, which:
Quote
<…> measures the positive/negative ratio of comments multiplied by the overall frequency of comments, is currently sitting at a 2-year low.
That, the above ratio (their ratio), is what is currently the 2YLow, not BTC Twitter Mentions, which may or may not be coincidently, but the ratio combines Twitter mentions with their sentiment variable:Quote
Weighed Social Sentiment = rolling z-score of [Sentiment Balance] x [Unique Social Volume]
It is therefore a product of the two variables. Not sure how their z-score goes, but it seems clear to me that if the Sentiment tends to Neutral (0), the Weighed Social Sentiment will tend to be reduced, (more or less) outweighing the [Unique Social Volume]. That is what we are seeing here.
It’s a combined variable, and we therefore cannot see the underlying values for BTC Twitter mentions …
Crowd needs hype to talk about bitcoin. We will see more mentions then there will be big movements
Do people typically write about BTC randomly? Altcoins are usually heavily mentioned only during hypes and pumps, as everyone literally spams "moon!" everywhere. Bitcoin has been quite stable around the 10-11k area for a long time now, so a lot of people probably lost their interest compared to months ago.
I think you could call it "the calm before the storm". I've noticed it's usually the calmest times that come right before heavy bull seasons.
I think you could call it "the calm before the storm". I've noticed it's usually the calmest times that come right before heavy bull seasons.
There is also a similar study in 2017, it's not twitter but forum posts and bitcoin price correlation, When Bitcoin encounters information in an online forum: Using text mining to analyse user opinions and predict value fluctuation.
I also noticed reddit as well, it shifted from bitcoin to mentions like "moon", or "uniswap". So perhaps this is just one of the reason, Defi, Swap is the new thing for this social media platform. But we all know that this is just temporary, bitcoin has been here for 10 years and I doubt that it can be replace by this new hype in the altcoin ecosystem.
I also noticed reddit as well, it shifted from bitcoin to mentions like "moon", or "uniswap". So perhaps this is just one of the reason, Defi, Swap is the new thing for this social media platform. But we all know that this is just temporary, bitcoin has been here for 10 years and I doubt that it can be replace by this new hype in the altcoin ecosystem.
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