Social Sentiment Effects on Bitcoin Price

Dang Quan Vuong is a trader and market analyst at King Stock Capital Management.

Potential new investors recently joining the Bitcoin network have expressed social interest in the asset. Whether you’re selling or buying bitcoin, your actions inherently have an impact on whale behavior. In this article, we will focus on how social sentiment influences whale behavior and how it is linked to price volatility.

When we look at social volume (particularly the sum of content that mentions Bitcoin-related terms at least once on Reddit, Twitter, and Telegram), we can see that social volume and bitcoin price are positively correlated. So what exactly is the rationale for this phenomenon?

Leave a Comment

Your email address will not be published.