Bitcoin is a topic showed by my Google Assistant at least 3 times a day, combined with occasional information on Litecoin. If Google suggests I’m interested in those, therefore I am. Another topic that occupies my mind is social media listening, meaning, being able to read and analyze at large what people are posting, commenting and sharing on Internet.
The following analysis is is a quick overlook on how, where and when Bitcoin and Litecoin are present on social media (this includes the big social media websites, news websites, images, etc.). It is neither in-depth, nor I will show you mesmerising statistical equations, but interesting observations.
Bitcoin vs. Litecoin
Internet shows ubiquitously that Bitcoin leads by a lot. Which of course is normal, but I was curious to see by how much – 11.5 times more than Litecoin!
In which countries?
Not surprisingly to me, USA is the leading ‘speaker’ about BTC and LTC. However, I have never expected to see Japan in 2nd place. If you have an idea why this is happening, comment.
Twitter is the leading medium and it is 10 times more popular than forum replies and post comments, respectively 2nd and 3rd in popularity.
While the other mediums are relatively steady, Twitter shows 2 increases in message volume on 29th of November and 6th of December. I thought it is caused by price changes.
Never ending price records
Bitcoin’s price is increasing almost daily, but on the night 06-07.12.2017 something incredible happened that caught my attention. The value for single coin increased by more than 1,000 EUR! Just few days after Steam announced they are ditching the cryptocurrency from their payment options and several days after Bitcoin was announced at NASDAQ for 2018.
Litecoin showed similar spike on 29th of November – a increase in number of messages related to the price increase. For the period 6-7th of December the price started to decline, opposite to Bitcoin.
Note 1: I did the analysis on 7th of December during my lunch brake, so the volume of messages on that date does not show the full picture. I would definitely consider to do an in-depth analysis.
Note 2: Bitcoin reached new highs and I am expecting to see even more interesting social dynamics.