The popularity of Bitcoin on Twitter reached a historic high

Researchers at The TIE have published a report showing that Twitter users' interest in Bitcoinjumped to a historic high.

The upward trend was recorded throughout the current year. The surge occurred on the eve of the May halving, when the Bitcoin miners' reward for mining the block decreased.

In the last 30 days, the number of postsdedicated to bitcoin, soared to the highest level in 2.5 years. Moreover, the number of positive tweets about cryptocurrency and its prospects significantly exceeds the number of negative references.

Bitcoin's sentiment (30 day average) is the highest that we have recorded since 2017.

30 day average tweet volumes on Bitcoin are also at 2020 highs. pic.twitter.com/A1IXRaeIPo

- The TIE (@TheTIEIO) May 18, 2020

The TIE CEO Joshua Frank said that the number of positive references to BTC is now at the highest level for the entire monitoring period that his team has been involved in.

The expert believes that a positive attitudeTwitter users to cryptocurrency signals the imminent entry of a coin into a phase of strong growth. For example, on May 17, on the social network, more than 31,000 tweets were published with the words “Bitcoin”, “Halving”, “Bitcoin trading”, “Bitcoin and gold”.

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