Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»Reddit Users Were Ahead of the Crowd in Buying Bitcoin Dip: Data
BITCOIN NEWS

Reddit Users Were Ahead of the Crowd in Buying Bitcoin Dip: Data

By Crypto FlexsJanuary 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Reddit Users Were Ahead of the Crowd in Buying Bitcoin Dip: Data
Share
Facebook Twitter LinkedIn Pinterest Email

Data shows Reddit users have been calling to buy Bitcoin’s recent dip, while other social media platforms have been bearish or indecisive.

Bitcoin social volume shows how various social media platforms reacted to the drop.

According to data from analytics company st tlyVarious major social media platforms have been divided on how to react to the cryptocurrency’s recent price movements.

The interest metric here is “social volume,” which tracks the total number of unique posts mentioning a particular topic or term on a particular social media platform or group of platforms.

This metric tracks the number of posts/threads/messages rather than the mentions themselves. This is because the latter methodology may inaccurately represent the actual amount of discussion occurring around the topic.

This is because discussion of a topic can sometimes be limited to a few threads, but each thread gets a significant amount of mention.

Because only users participating in these threads are interested in the topic, these trends are not representative of the thinking of the wider community. So counting the number of posts makes more sense. Because these numbers only go up when there is genuine interest across platforms.

What Santiment has now done is filtered the social volume related to Bitcoin/cryptocurrency for bearish and bullish conditions for each of the four major social media platforms: Telegram, Reddit, 4Chan, and X (formerly Twitter).

Below is a chart showing social volume trends for all websites.

How the different social media userbases reacted to the dip | Source: Santiment on X

The bullish terms chosen by the analyst firm here are keywords such as buy, bottom, and bullish. Likewise, keywords related to downtrends include sell, high, and downtrend.

Looking at the graph, while Bitcoin recently plummeted to the $38,500 level, Telegram users were mostly bearish, with social volume surging for terms related to this mindset. X users also turned bearish, but bullish social volume did not decline significantly.

4Channers seemed completely disconnected from the trajectory of its assets. This is because both social volumes were at roughly the same level for both platforms. Reddit users appear to be on the opposite end of the spectrum from Telegram and X users, as deep buy requests surge on the platform.

So far, Redditors’ bet may have paid off. This is because BTC has shown some recovery after the drop which has prompted a potential buying move. Although the surge has not been very large so far.

Historically, Bitcoin has tended to defy majority expectations. Since these platforms are all split on the direction of the coin, it is difficult to tell where BTC will go based on sentiment alone.

“when telegram, reddit, Xand 4 dishes Everything is extreme optimistic or bearish According to sentiment, now is the ideal time to be a contrarian and go against the crowd’s unified assumption about the market,” explains Santiment.

BTC price

As of this writing, Bitcoin is sitting around $40,200, down more than 5% since last week.

bitcoin price chart

Looks like the price of the coin has made some recovery in the last couple of days | Source: BTCUSD on TradingView

Featured image by Kanchanara on Unsplash.com, chart by TradingView.com, Santiment.net

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano is 4% away, saying that Hoskinson will break the Internet.

September 21, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Expect what XRP ETF is approved by the SEC

September 9, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Rendering improved by 29% in 7 days. Are the whales ahead of the RNDR?

January 7, 2025

Gala Ecosystem Launches Telegram SSO for Streamlined User Onboarding

August 10, 2024

Gmail improves AI email drafting with voice input

January 24, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.