ביטקאָין

ביטקאָין, טעלעגראַם, סלאַקק, רעדדיט און טוויטטער - דיקאָודינג די לעצטע מיסטעריע פון ​​געזעלשאַפטלעך באַנד

05/28/2022
ביטקאָין עטהערעום נייַעס

סאציאל באַנד is considered an integral part of the cryptocurrency market. This happens to be an extremely important indicator for traders/investors to determine future profitability.

Telegram, Slack, Reddit, and Twitter are used by the crypto teams to communicate updates, announcements, and roadmaps with the rest of the community. The latest status check has a lot of interesting revelations.

Ace in the declining hole

The crypto market has witnessed a massive correction and sell-offs in the month of May. Given the sentiment, even overall discussion levels on social media platforms have continued to decline.

But here’s a small twist that could help revive the network. Overall social volume across Telegram, Reddit, and Twitter now show differing behaviors.

בילד

מקור: סאַנטימענט

The on-chain analysis platform, Santiment in a 28 May tweet סטייטיד,

“ווי קריפּטאָ market caps continue to wane, we’re watching the differences in overall discussion levels on טעלעגראַם, רעדדיט, און טוויטטער. Twitter has the highest rise in קריפּטאָ interest since 2021, while טעלעגראַם‘s more anonymous platform has fallen.”

To better understand this effect, let’s consider the largest coin, ביטקאָין. The king coin maintained a direct relationship with social sentiments. Social volume can have a ‘snowball effect’ on price movements, both to the upside and downside.

Looking at social volume (the sum count of content that mentions Bitcoin-related terms at least once, particularly on Reddit, Twitter, and Telegram), one could see a positive correlation.

Likewise, consider the active Telegram users in correlation with Bitcoin- even though the outcome remains a bearish one, but at least the relationship remains strong.

At press time, Bitcoin suffered yet another correction of 2% as it טריידיד around the $28k mark. The correlation stood strong.

Enough said, now happy glimpses 

Twitter saw the highest rise in קריפּטאָ interest since 2021. The other platforms can’t be seen in competition with the microblogging site.

מקור: Bitinfocharts.com

Furthermore, one should also take note here that for BTC, the number of coins held on exchanges has declined, and reached an 18-month low of 2,208.613 as per data provided by blockchain analytics firm Glassnode.

Source: https://ambcrypto.com/bitcoin-telegram-slack-reddit-and-twitter-decoding-the-mystery-of-social-volume/