There are less than three weeks left before the Bitcoin halving occurs, something that has crypto social media abuzz with chatter. Overnight, the mentions of the world “halving” skyrocketed across media platforms, overshadowing the gold talks of February, as well as the discussions of the coronavirus in March.
Talks Of Halving Increasing
On the 23rd of April, TheTIE, a crypto social sentiment analysis firm, published the latest data on Twitter. This data showed that discussions concerning “Halving” had reached the ninth-spot on the most-discussed topic relating to Bitcoin (BTC) on twitter.
So is it a good time to buy Bitcoin with a credit card
Starting in early April, publications started to cover the BTC halving significantly more (white circles represent mentions of the halving in media)
However, the increase hasn't led to more social media chatter on BTC, with average daily tweet volumes declining by over 12% pic.twitter.com/jH14Dpt8f6
— The TIE (@TheTIEIO) April 22, 2020
According to the tweet, there were 650 tweets on the subject when they published it. Bitcoin discussions in regards to gold, however, still stands at an impressive 690 tweets.
Mati Greenspan, a crypto analyst, explained that this COVID-19 pandemic that’s been rocking the world, has left very little room for any sort of conversation about the Bitcoin halving. As a result, it’s only been drowned out by the mountains of chatter about the virus.
Halving, Gold and Coronavirus Top Three Discussions
However, the day after the statement, halving chatter almost doubled in a brief span. It quickly became the second-most popular topic related to Bitcoin on twitter, with 1,058 tweets. To put it in perspective, the only thing that managed to beat the halving talks, is “#trading,” which has 1,129 tweets. Gold managed to move down to the ninth place, clocking in at 634 posts.
The spike in discussions regarding the halving ran in tandem with a weekly high of Bitcoin-related posts per hour on twitter, having been recorded at 8,134. This stands in accordance with the LunarCRUSH sentiment analysis firm and the data it provides.
TheTIE took further notice of a large amount of media coverage in regards to the upcoming halving event, set for April. This may have further contributed to the increase in social media activity, according to the data provider.
Joshua Frank, the co-founder of TheTIE, compared the volumes of crypto articles that talked about gold, the crypto halving, and the coronavirus. The data itself shows that gold and the halving kept rising and falling, overtaking each other in a semi-predictable pattern. However, in March, COVID-19 overtook the top discussion position by a large margin and only recently had halving talks started to rise up to compete with it.
With the crypto halving imminent amid an overall crisis in the market, as well as a global pandemic causing most governments to shut down, this halving event will be notable. It will be interesting to see the price movements after the halving, as the world tries to control an unprecedented pandemic.