US Posts The Most On BTC And Facebook’s Crypto Libra, Finds Twitter Study

According to the new research, the United States has emerged as a leader when it comes to tweeting about digital currencies Bitcoin as well as Facebook’s soon-to-be-released crypto Libra. The study has been published in a series of tweets by The Tie, a powerful platform for crypto traders based in USA’s New York, on Twitter on 3rd July 2019.

As per the study, out of the total Bitcoin tweets from across the globe, 38.9 percent came from the US while the United Kingdom recorded 10.5 percent of Bitcoin tweets which lands the country at the second spot. Apart from the US and the UK, the list of top 5 nations with the maximum number of Bitcoin tweets include Canada, Turkey, India, and Australia.

In addition to the number of tweets related to the leading cryptocurrency, The Tie study also explored the sentiment behind those tweets, analyzing whether the tweets talked about Bitcoin in a positive way or a negative manner. It was then determined that among the nations representing a minimum of 0.5 percent of all the total BTC tweets, Peru stood first in positively talking about the crypto. The 2nd and 3rd spots were taken by Malaysia and Indonesia while the 4th and 5th spots were respectively held by Vietnam and Italy.

On the other hand, maximum BTC tweets with negative tone to them came from Venezuela, 62% of the total tweets. The other four spots in the top 5 nations posting negative Bitcoin tweets were held by Mexico, Estonia, Brazil, and Ireland, from the 2nd to 5th positions. Venezuela posting negative tweets on Bitcoin comes as surprising as the nation, of late, has been coming across as crypto curious due to the recent and massive crisis regarding its national currency.

Divulging more insights on the tweet sentiment, the study found that the US has been extremely positive. It has 61.5 percent of Bitcoin tweets showing the crypto in a favorable light. As far as the global percentage is concerned, out of the total tweets, 59.8 percent were positive.

To provide a better idea, The Tie also shared a map titled as ‘Bitcoin Global Sentiment Map’ mapping the average positive and/or negative tendencies among the countries.

Other than Bitcoin, The Tie took the time to research which countries tweeted the most about Facebook’s ambitious cryptocurrency Libra along with the sentiment behind those tweets. Here again, the US tops the list with 43.8 percent of the total tweets on Libra. The United Kingdom stands second in the list followed by France, Canada, and Australia.

Interestingly, the study found 54.8 percent of Libra tweets to be negative on 3rd July while originally the posts on Libra tended ‘to be more positive.’ The UK, however, grabs the top spot when it comes to tweeting about Libra coins positively. Tweets coming from France and the US tend ‘to be much less positive’ may be as the nations are going through the regulatory pushback, stated the study.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button