Bitcoin Generating Positive Perception Worldwide, Libra Struggles To Keep Up

Bitcoin Price Growth Has No Effect on Crypto App Growth

Social media is at the center of our lives today and the conversations that are held on the various social media platforms have a lot of bearing on the events in the world. Conversations regarding cryptocurrencies are common on social media and many crypto analysts use Twitter and Facebook to engage with the crypto world.

What They Are Saying About Bitcoin

A recent study by The Tie revealed that the majority of conversation about Bitcoin on Twitter comes from the United States. 38.9% of tweets related to Bitcoin come from the United States while 10.5%, the second highest total, come from the United Kingdom. Canada, Turkey and India complete the top 5 countries from which the most conversations about Bitcoin come from.

The study also looked at whether the conversation happening about Bitcoin carries positive or negative connotations about the cryptocurrency. The general conversation about Bitcoin is mostly positive worldwide, with 59.8% of the tweets considered in the study being positive about Bitcoin. The United States also dominated in this regard with 61.5% of the tweets from the country showing a positive perception of Bitcoin. With the recent upward trends surrounding the price of Bitcoin, it is no surprise that many traders may be looking to buy Bitcoin.

Among countries that contribute at least 0.5% to the total conversation, the highest number of positive tweets came from Peru. Italy, Malaysia, Vietnam and Indonesia all follow closely behind Peru in terms of the positivity they have towards the crypto. This shows that Bitcoin trading in these smaller countries may be on the rise. Tweets from Venezuela generally showed a negative perception of Bitcoin with 62.5% of the tweets from the country being negative about it.

The Conversation About Libra

Since Facebook announced its cryptocurrency project named Libra, it has been the subject of many conversations. Similarly to Bitcoin, the highest number of tweets about Libra came from the United States. 43.8% of the tweets about Facebook’s project came from the United States, a figure which surpasses the Bitcoin percentage. The United Kingdom is again second and France, Canada and Australia complete the top 5.

The majority of the conversation about Libra is, however, negative as compared to that surrounding Bitcoin. The tweets about the project were initially positive soon after the announcement of it was made but the tides have since shifted and 54.8% of Libra related tweets reflect negative sentiments.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.