Crypto Twitter Sentiment Remains Positive Despite Bitcoin (BTC) Price Drop

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Sun, 03/29/2020 - 09:02
Alex Dovbnya
Positive sentiment still prevails on crypto Twitter after the enormous Bitcoin (BTC) price crash
Cover image via stock.adobe.com
Contents

In spite of a 60 percent Bitcoin (BTC) price rout, crypto Twitter remains upbeat. This is according to a behavior analytics platform Santiment that analyzes countless cryptocurrency-related posts on different social media platforms to help investors get an overall feel of the market. 

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The bulls are unfazed 

After the historic price plunge that happened on March 12, there was a strong uptick in both positive and negative sentiments. While permabears in the likes of Peter Schiff and Nouriel Roubini were having their field day, some bulls saw this as an opportunity to stack more sats at a discount.

Digital Currency Group Barry Silbert tweeted that he was buying more BTC since it was exactly why it was created. 

The 'crypto king' wasn't alone. As reported by U.Today, 'buy Bitcoin' Google searches recently spiked to an eight-month high, outperforming gold.     

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Beyond crypto Twitter

However, Santiment also mentioned that people outside of crypto Twitter were less enthusiastic about crypto. Negative sentiment has been prevailing on both Discord and Reddit since 'Black Thursday.'  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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