Comparitech, which is committed to research and consumer-centric issues, analyzed data from more than 48,000 articles on Reddit, which were selected from the cryptocurrency subscription section. Consumer researchers have concluded that the universal support for cryptocurrency is unbelievably high. The company found that more than 85% of people are optimistic about cryptocurrencies.
This is not particularly surprising, but other data from Comparitech may be caught off guard.
- Bitcoin and cryptocurrency continue to incite the banking system, and it is expected that Bank of America will lay off 200,000 people in the next 10 years.
- Is Bitcoin really important? In fact, the key is here.
- Chengdu chain security: stolen killer whale users may have sustained attacks
- Bitcoin computing power hit a new high, with an average daily trading volume of $2 billion. Analysts believe that price increases will follow.
- BlockFi CEO: Stabilize the market value of the currency or exceed BTC within five years
- ETH fell to the $200 mark, paying attention to short-term risk
Reddit: Bitcoin is shouting
The post analyzed by the researchers can be traced back to January 2017 to July 2019, when Bitcoin bottomed for more than four years and finally regained $1,000 in January 2017.
In general, in four years, consumers are more likely to express anger on the Internet than to express support. The authors of the report pointed out that this is not the case in the cryptocurrency world.
“Previous research shows that although there may be many positive experiences, people are far more likely to write negative reviews than positive ones. However, when it comes to evaluating cryptocurrencies, this trend is completely reversed. In our investigation In the January 2017 to July 2019 conversation, the conversation on the Internet was very positive."
A user may post dozens of "positive" posts about cryptocurrencies.
The cryptocurrency detractor has always existed and will always exist. One of the most noteworthy communities in this regard is the r/Buttcoin section, a reddit sub-forum dedicated to making fun of the irrational behavior of cryptocurrencies.
Reddit's most popular cryptocurrency: Libra?
Surprisingly, the highest cryptocurrency on Reddit is Facebook's Libra.
Does this mean that Crypto Reddit is ready to accept Zuck-Buck? Or are supporters in the market actively seeing it as their favorite currency?
In addition, it is surprising that Bitcoin has not even entered the top three. The more powerful you are, the more hatred you have.
On the contrary, communities like Tron and ADA are closely related to the upper level of positivism. Despite this, Bitcoin ranked sixth has never replaced the dominant cryptocurrency.
In addition, although the least discussed, Tether (USDT) is the most annoying.
Tether 2017: We promise that all Tethers are 100% supported by legal currency Tether 2018: We promise that all Tethers have 100% assets to support Tether 2019: We promise that 74% of Tether is supported by… Tether 2020: Tether is there, we don't have any promises
– Giancarlo The Tether Whisperer (@CasPiancey) May 6, 2019
According to Reddit data from January 2017 to July 2019, Libra is the most optimistic cryptocurrency. Source: Comparitech
Negative reports from the mainstream media are incompatible with the general public
In the past 19 months, the mainstream media has expressed more negative emotions than the mainstream. The data shows that International Business Times is the most negative cryptocurrency publication, with more than 68% of articles rated as “negative” by Comparitech.
Due to our "niche" position, sites like CCN have not been reviewed – data is not very useful because we openly support decentralization, cryptocurrency and freedom.
“The Huffington Post and International Business Times have the highest scores on cryptocurrency articles. The Huffington Post describes the conspiracy theories in the industry, while the International Business Times reports on the industry’s 4000 Ten thousand dollars of hacking. Of course, the above research is neither completely negative nor completely positive. Every writer has his own influence on this topic."
The "Fear and Greed Index of Bitcoin and other large cryptocurrencies", launched in February 2018, shows that in June this year, the greed index reached its highest level in history.
June happened to be when Facebook announced the Libra plan.
Currently, the fear and greed index is 57 (up to 100). The market has cooled down, and recent scandals about Tether, Bitfinex and Tron have begun to fade.
In June 2019, the fear and greed index around cryptocurrency soared. Source: Alternative.me
The data shows that, in general, your voice is really important. Therefore, commenting on the mainstream media's comment area and using sites such as Reddit has a decisive impact on the future of cryptocurrencies.
Regardless of whether you like it or hate it, use words with caution – your comments may have a serious impact.