Cryptocurrency Research: how social media buzz data correlates to price
This cryptocurrency research report analyzes how spikes in social media conversation and search volume about Bitcoin correlate to new Bitcoin price highs.
By studying the Bitcoin social media conversation towards the end of 2018 (over 5 million posts), we found how over this period, in nearly every case, a rise of 10% or more in social cryptocurrency social media buzz volume from one day to the next forecasts a rise of at least 5% in the price of Bitcoin within three days’ time.
We also broke down the audiences for cryptocurrencies over this same period, trying to understand to what extent is the “mainstream” social audience was aware of, and genuinely interested in, cryptocurrency.
Download the full research report (white paper) below.