Bitcoin Tweets Skyrocket to a New All-Time High After the Crash to $30K

[Leviathan.007]

Although the price of Bitcoin has dropped by 40% since its peak, the popularity of this asset is actually increasing day by day. According to the latest data in the chain, the number of tweets related to this leading cryptocurrency has reached a new record in the midst of the latest market crash.
Undoubtedly, Jack Dorsey's social media giant Twitter is the best choice for fans, investors and fans of cryptocurrencies, and the best platform for them to interact with each other. And it is not unreasonable that an unofficial term called "Crypto Twitter" has been created in this regard.
Data provided by the TIE Digital Assets Monitoring Source show that such interactions on the largest cryptocurrency available in terms of market value were significantly higher in 2021 than in previous years. Well, naturally, the increase in these interactions was predictable at the same time as the price of bitcoin increased.



Interestingly, BTC or Bitcoin-themed Twitter posts skyrocketed on May 20, reaching their highest level of more than 232,000 tweets. This sudden increase can once again be attributed to price changes.
This happened exactly one day after Bitcoin fell from over 40,000 to about $ 30,000. The rise of such fluctuations usually persuades people to make various statements to determine whether they are taking a downtrend or offering an uptrend when the price falls.
The data from Santiment Data Analysis also confirms the widespread increase in social media interactions about Bitcoin and the rest of the market. However, these interactions have a more negative aspect and, according to the analytical platform, "cryptocurrency traders are clearly terrified."
In addition, the company says that for the first time since the fall of the market after Black Thursday in mid-March 2020, the contract funds rate in the popular Bitmex exchange office has been in the negative range (-0.25).
The Greed and Fear Index also shows that society has been in a state of "extreme fear" for the past few days, and this confirms the recent statements of sentiment.


Source: https://cryptopotato.com/bitcoin-twitter-mentions-skyrocket-to-a-new-all-time-high-after-the-crash-to-30000/

[rhomelmabini]

I think the data more matters if the price was on the upward movement rather than in a drop, just my two cents. I'd be more happy if the Google search trend data was increasing or may peak again just like 2017 when it reaches ATH.

[tranthidung]

Another source shows that crypto market is under massive FUD. The Block - Social Metric
That chart gives an overview as it does not differentiate tweets from influencers and tweets from the crowd but it good enough to display net effects of massive FUD.