Bitcoin-related Tweets At 5-Year Low, Consumer Interest Declining, Researcher Argues

Twitter user Kevin Rooke (@kerooke), a widely-followed investor and technology enthusiast, recently pointed out that “Bitcoin-related tweets are at their lowest level in five years.”

According to Rooke’s assessment, this means that the world that exists “outside of Crypto Twitter (CT)” is no longer paying as much attention to Bitcoin (BTC) as it was a few years back.

Rooke noted that “there were 16,710 Bitcoin tweets yesterday (April 27th, 2019), but roughly 30k Bitcoin tweets per day in 2015.” He also mentioned that he had obtained the latest data from @bitinfocharts and had asked them to explain how they “determine these figures.”

In response to Rooke’s tweet, Twitter user RainDogDance argued that “the metrics [were most likely] false.” RainDogDance recommended “looking at Bitcoin-related tweets from 4-6 years ago.”

He also stated that “even tweets from Bitcoin 'celebrities' at that time got barely any likes/retweets/replies.” However, “today there's much more of that,” RainDogDance claimed.

40% Increase In Allocation To Cryptocurrency Funds

Meanwhile, Mia Tam, a full-time cryptocurrency trader, revealed via Twitter (on April 29th, 2019) that research recently performed by Crypto Fund Research indicates that cryptocurrency funds have “increased by [more than] 40% in Q1 2019 alone.”

A recent survey of around 10,000 European residents revealed that the majority, or 63%, of respondents believe that cryptocurrencies will still be around in the next ten years. However, many of the survey participants also believed that Bitcoin (BTC), the world’s most dominant cryptocurrency, might not necessarily last over the next decade.

Bitflyer, “a Bitcoin exchange and marketplace that enables its customers to buy, sell, and spend bitcoins,” had reportedly conducted the survey. Bitflyer’s management had sent out the survey to residents of France, Belgium, Germany, Norway, and other regions of Europe.

Responses from the citizens of these high-income economies seemed to suggest that consumers were, for the most, confident that cryptocurrencies were based on innovative technology and would become a part of the global economy in the coming years.

Google Search Interest For Bitcoin Tripled In Early April 2019

Earlier this month, Google Trends data showed that searches for Bitcoin had more than tripled. This, after the Bitcoin price surged by as much 20% to surpass the $5,000 mark.

According to data from Google, search interest in Bitcoin went from around 33 to 100 (out of 100) - almost immediately after the cryptocurrency’s price surged. However, search interest also fell quickly to between 50 and 75. Notably, Google’s numbers are determined by algorithms, and the actual search data and methodology is not available.