Does the community dictate the price of BTC before it happens?

dailycryptodata (51)in #cryptocurrency • 6 years ago (edited)

With the current bear market or trend that we are in right now with Bitcoin, we wanted to do a little technical social analysis and see what the world thinks and how it relates to the price. Pretty interesting to see that the mentions of Bitcoin doesnt always follow the price of the coin, but sometimes the mentions peek before the price does. So does the general market seem to dictate the price of the coin?

According to the word map below, seems like the community still feels "bullish" as well as a "good price", not sure how both of those are affiliated. People could just think Bitcoin is at a good price and is about to go into a bull market?

This is also a pretty interesting statistic to see, this pie chart shows every country that represents more that 1% of total mentions of Bitcoin in the last month based on 586,000 mentions.