Bitcoin Has Peaked Since 2017

Bitcoin investors sentiment on Twitter has become rather positive in the last three years, The Tie analytic company informs.

Bitcoin's sentiment (30 day average) is the highest that we have recorded since 2017.

30 day average tweet volumes on Bitcoin are also at 2020 highs.

— The TIE (@TheTIEIO) May 18, 2020

The study estimated the number of positive and negative tweets about bitcoin. Based on the assessment of the enormous amount of data, The Tie specialists determine the average assessment of sentiment to bitcoin every month. After research, analysts concluded that the popularity of the first cryptocurrency on Twitter in May 2020 reached its highest level since the parabolic growth of 2017.

The number of references to Bitcoin also increased in this month, it reached 31 111 times. Analysts explain this popularity by a halving and a subsequent pump of the asset price.

Recall that we wrote earlier that bitcoin does poorly with the role of “shadow finance”. Also, one of the bitcoin whales believes that the current cryptocurrency rate is overvalued. And the bitcoin mining complexity has slightly decreased in recent times.

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