While the cryptocurrency continues to spread around the world, the online world mirrors its growth as well. Communities are being formed on messaging apps, forums, and social networks, dedicated to various discussions, criticism, endorsement, and more. The crypto community seems to have the largest presence on Twitter, which has been the case for quite some time.
In fact, analysts were interested in the community’s growth and behavior so much, that they analyzed it, trying to determine which country has the greatest presence and interest in crypto. According to their results, it would appear that the US Twitter users dominate when it comes to global discussions concerning Bitcoin. After analyzing a great number of tweets and threads, analysts have determined that the overall sentiment is quite positive.
However, the same could not be said when it comes to Facebook’s soon-to-arrive Libra. As analysis has shown, the majority of Libra-related tweets appear to be negative.
The research was made and published by the crypto trading platform known as The Tie, back on July 3rd.
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To put into perspective how much the US dominates crypto twitter conversations we created a map showing the geographic distribution of Bitcoin tweets across the globe over the last 24 hours.
The blacker the country the more tweet volume it has. pic.twitter.com/caQkuuWuHY
— The TIE (@TheTIEIO) July 4, 2019
They mostly focused on the geographic breakdown of cryptocurrency on Twitter, and they discovered that around 38.9 Bitcoin-related tweets are posted by US-based users. This is definitely the largest percentage per country, especially considering that the second place is being held by the UK, with only 10.5%. Others among the top five are Canada, Turkey, and India.
The US praises Bitcoin but does not like Libra
Researchers were also interested in seeing whether the sentiment regarding cryptocurrencies is positive or negative.
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Finally we mapped countries by whether or not Tweets on Bitcoin within those countries tended to be positive or negative, the result is the map below. pic.twitter.com/PniHQ5PZgR
— The TIE (@TheTIEIO) July 4, 2019
According to the results, the most positive stance, on average, is among Peru-based Twitter users. Peru’s contribution to crypto discussions is at around 0.5% of total crypto discussions on Twitter, but the country is the most positive regarding Bitcoin, as well as other cryptos. Other countries with a major positivity rate include Malaysia, Indonesia, Vietnam, as well as Italy.
When it comes to the US, however, the country is also not that far behind, with 61.5% of tweets found to be positive in regards to Bitcoin. This is only slightly above the positivity of global Twitter conversations when it comes to Bitcoin (59.8%).
Meanwhile, the country with the most negative posts (62%) appears to be Venezuela.
However, the situation is quite different when it comes to Libra. Where the US was quite positive in regards to Bitcoin, it is much more negative when it comes to Libra. The country is responsible for 43.8% of Libra-related tweets, while the second place once again belongs to the UK, with France, Canada, and Australia following.
As mentioned, the sentiment towards Libra is extremely negative, with 54.8% of tweets being displeased, concerned, and alike. This was not always so, however, and when the news of Facebook’s coin first broke out, the sentiment was extremely positive. But, as time went by, the hype had dropped significantly.