Report: Bitcoin Sentiment on Crypto Twitter Low in South America
Twitter users from the US talking about Bitcoin by far dominate the discourse surrounding crypto assets on the popular social media platform. A new report states that the UK comes a close second across each of the five top digital currencies.
Surprisingly, the analysis states that Bitcoin is much less popular than once thought in South America. This week nations comprising the region were the harshest critics of the most valuable digital currency.
BTC Continues to Dominate Discourse on Crypto Twitter
Digital currency trading data platform The Tie have just published a report of the last week’s Twitter activity relating to each of the top five cryptocurrencies by market capitalisation. Titled, “The Geography of Crypto Twitter: An In Depth Look at Bitcoin, Ethereum, Litecoin, XRP, and Bitcoin, Cash, it finds that crypto proponents from the United States and UK are the most active on social media platform.
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The Geography of Crypto Twitter – An in depth look at Bitcoin, Ethereum, Litecoin, XRP, and Bitcoin Cash
We set out with the goal of breaking down the five largest cryptos by market cap and their sentiment across the globe.
The Report: https://t.co/V9kZpCNMSy pic.twitter.com/6FRCKdNiVJ
— The TIE (@TheTIEIO) July 8, 2019
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Most Twitter activity around the top five crypto assets at the time of writing comes from the US. Meanwhile, the UK is second across the board.
Things get more interesting in the lower positions. For Bitcoin, Canada, India, and Australia rank fourth, fifth, and sixth respectively. For Ethereum, it’s China, Russia, and India. For XRP, it’s Australia, Holland, and Canada. For Litecoin, it’s Canada, Australia, and India. Finally, for Bitcoin Cash, it’s India, Australia, and the Philippines.
Unsurprisingly, the coin that continues to inspire most conversations overall is Bitcoin. A massive 113,685 tweets have been posted about the number one crypto asset by market capitalisation over the last seven days. The report also states that users from 206 countries/territories around the world have added to this total.
In addition to looking at where activity was coming from on Twitter over the week, The Tie have also analysed the sentiment of the Tweets. Here, it found that Litecoin Twitter engagement was the most positive of the top five. Next was XRP and Ethereum, followed by Bitcoin and Bitcoin Cash.
Perhaps the most interesting findings of the report is the sentiment of each top five coin by country. For Bitcoin, Peru scored a massive 93.1% positive tweets. However, much of the rest of South America actually had the fewest positive posts about Bitcoin over the last week. Ecuador, the Dominican Republic, Brazil, Argentina, and even the supposed Bitcoin hotspot, Venezuela ranked amongst those most critical of the crypto asset.
The report also states that Bitcoin Cash is by far the least discussed crypto asset amongst the top five by market capitalisation. However, the UK and US appear most optimistic about the controversial digital currency. It is the only one of the top five to have the two most active nations on Crypto Twitter to appear in the top five countries most positive about the project on the platform too.
Related Reading: Twitter CEO Is Buying $10,000 In Bitcoin Each Week: Why Is He So Optimistic?
Featured Image from Shutterstock.
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