Underhyped? Bitcoin sentiment lags despite bull run

Underhyped? Bitcoin sentiment lags despite bull run

Since its drop below $4,000 in March 2020, Bitcoin (BTC) has ridden a bullish trend all the way past its 2017 all-time high, recently hitting almost $42,000. During that time, however, Bitcoin’s Twitter activity has underperformed in comparison to its price. 

Looking at information from crypto data outfit The TIE indicates that Bitcoin’s price is traveling above its Hype-To-Activity Ratio — a metric which shows tweet volume against asset trading volume — since 2019. 

“Hype-To-Activity Ratio measures the number of tweets a particular coin has per each $1M in reported trading volume of that coin,” The Tie’s CEO, Joshua Frank, told Cointelegraph, as previously reported. Based on a study from The Tie, posted in August 2019, 1.02 came in as the average Hype-To-Activity Ratio score across the industry.

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Bitcoin’s Twitter hype vastly overshadowed its price for most of 2018, coming down to intersect with the price for a brief period in May, 2019. Twitter hype continued falling, finding itself

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