How Twitter is related to Bitcoin?
Is there any relationship between what people write in Twitter and the Bitcoin price? Yeah there is.
We have analyzed what established the relationship between the number of the twits and the fluctuations in Bitcoin price. On Monday 26/03/2018, the price of Bitcoin has fallen for more than 8%. According to our research one of the factors that lead to a further decline in Bitcoin price was an anomaly activity in Twitter.
As we can see that there is a strong negative correlation between the number of twits and the Bitcoin price. The more people twit about Bitcoin or related things the lower is the price.
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STOPFor future viewers: price of bitcoin at the moment of posting is 7875.40USD