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Despite all of the bad press that the digital asset industry continues to receive on an almost daily basis, it appears as though the overall sentiment of the online communities in regard to this burgeoning domain is still pretty positive. For example, Comparitech — a research firm that provides its consumers with a host of specialized data that allows one to make more informed decisions — recently used a machine learning-based analysis tool to study more than 48K Redditposts to determine which cryptocurrencies were viewed most favorably by the masses. Not only that, the study also took into consideration a total of 7,500 crypto/blockchain-related articles from a variety of different national and international media outlets.
All of the posts, tweets and articles analyzed by the researchers were scored on the basis of their positive/negative sentiment — primarily in relation to other articles included in the study. In this regard, there were a few notable trends that jump out at the reader upon first glance. While over 85% of the analyzed Reddit posts were deemed to be positive in nature, articles published by various mainstream media publications such as HuffPost, Business Insider and The International Business Times were, by and large, dismissive of the crypto market.
To get a better overview of the matter, Cointelegraph has reached out to Craig Russo, owner of Peer, a Boston-based startup that is behind the popular crypto and gaming media outlet SludgeFeed. When asked about what the overall sentiment of the average social media user toward the crypto industry (at large) was like, Russo pointed out:
“While there will always be different camps or schools of thought on the crypto industry, the overall sentiment across social media continues to be bullish, both on future price growth and mainstream adoption of the technology.”A similar point of view is also shared by Sritanshu Sinha, an independent crypto author and analyst, whose work has been shared online by the likes of John McAfee and Kim DotCom. Sinha pointed out that the overall reception that the crypto industry has received thus far on forums such as Reddit and Twitter has been quite warm. He is also quick to point out that, since the Reddit community as a whole views itself as being anti-establishment, the platform’s users are usually drawn to crypto much more than your average investor. Similarly, in the case of Twitter, he believes that there are a few independent analysts who have hundreds of thousands of followers and therefore have the power to influence the community toward fostering a positive view regarding various altcoins/digital offerings.
Has the public views on crypto changed over the years?Another pertinent question is how the crypto industry’s general perception has evolved since the novel asset class came into the spotlight a few years back. For example, it is no secret that all through 2018, investor confidence in this space has been dwindling. However, Russo believes that Bitcoin’s (BTC) financial upswing over the last eight months has been a turning point for the industry, especially across different social media outlets. Further elaborating on his views, Russo added:
“This is in stark contrast to those invested in the altcoin markets, as many are in disbelief towards the poor performance of their assets. The regulatory environment definitely plays into the latter, as increasing pressure from the U.S. government has undoubtedly hurt investor interest in Bitcoin alternatives (i.e., Binance shutting down to U.S. customers).”When compared to the previous years, the general sentiment toward the crypto sector has certainly become less hostile. For example, back in 2017, a time when Bitcoin was witnessing astronomical growth, the industry was still facing a lot of heat from many financial experts of differing pedigree. And while the market, at the time, was replete with countless scams(especially Twitter bots) such activities have largely died out now.
As mentioned earlier, a host of recent surveys seem to suggest that more than 80% of all crypto talk online is positive. This number seems abnormally large for an industry that is usually on the receiving end of a lot of criticism from various traditional media outlets. Sharing his thoughts on the subject, Sinha pointed out:
“80% seems about right. Mostly, because that’s the nature of evangelism. Most of us on social media seems to be crypto-evangelists. However, positive sentiments and bull markets are highly correlated and they seem to be feeding off each other to create a positive feedback loop. If I have to prophesize, the 80% positive sentiment will not be the case during a bear run. Then the voices of the skeptics will become louder and sentiments will turn increasingly negative.”
Tweet interpreters are being used to gauge global investor interestA number of hedge funds and asset managers are currently turning tosoftware developers to help them interpret and harness sentiment signals to their advantage. Speaking to Reuters on the subject, Bin Ren — CEO of Elwood Asset Management — was quoted as saying that this latest trend of identifying price clues from tweets and other social media messages is slowly turning into an “arms race for money managers.”
To put things into perspective, it can be seen that the costs involved with conducting such types of research analyses are quite steep. As per Andrea Leccese, president of New York-based investment firm Bluesky Capital, a simple bot-driven Twitter data exploration can cost firms anywhere between $500,000-$1 million.
Will increasing regulations stifle the industry’s growth?Ever since Facebook announced its decision to enter the digital asset market — via its much-hyped stablecoin offering called Libra, which is backed by the Libra Foundation — the regulatory noose surrounding this space seems to have tightened considerably. However, contrary to popular belief, a number of crypto analysts seem to believe that increased regulations can be a good thing for the industry.
Cointelegraph spoke to Mohanned Halawani, the founder and CEO of Crypto PR, one of the first blockchain-specialized communication firms. He seems to be quite optimistic and believes that some of the latest regulations are actually quite advantageous for prospective investors, especially those regarding security token offerings (STOs) and initial coin offerings (ICOs). Halawani went on to add:
“The SEC has facilitated the emergence of Security Token Offerings which it felt was a more worthy investment vehicle when compared to traditional Initial Coin Offerings… Security tokens allow their investors to get information about the issuer on a fully transparent framework, providing complete visibility on all token allocations. Thanks to the regulatory benefits of these assets, authorities are beginning to their raise their standards among tradable asset classes and even support their implementation.”Similar opinions are also provided by Joe Mercurio, project manager for Comparitech, who believes that the goal behind these regulations is to ultimately make consumers and businesses more comfortable with using cryptocurrencies on a regular basis. Mercurio shared his thoughts with Cointelegraph:
“I think that government entities will eventually adopt blockchain technology and new cryptocurrencies will begin to emerge. That said, I do believe that the market will remain volatile.”Whether we like it or not, government regulations are crucial for any financial commodity — be it crypto or otherwise — to gain mainstream acceptance. And while these rules and guidelines may appear to hamper an asset’s growth at times, a majority of these regulations are a step in the right direction. Also, because Bitcoin and other digital currencies are basically tools for individual financial freedom, governments do not want to give up financial control over their citizens.
Simply put, when we see the history of such revolutionary technologies getting adopted by countries en masse’, we are sadly faced with a long and painful path that eventually leads to widespread human well-being.
How much of a role does social media play in shaping the public’s opinion on crypto?Mercurio, whose core field of work includes the analysis of tweets and other online content to gauge public sentiment, is of the belief that there currently exists a strong correlation between the volume of social media posts related to a particular digital asset and its price. As part of his research, he claims to have often observed spikes in online articles when the price of a specific cryptocurrency changes. Mercurio went on to add:
“Social media posts remain more positive during times of price fluctuation compared to media coverage overall. Online enthusiasm regarding crypto has been overwhelmingly warm. We found that cryptocurrency-related subreddits were 55% more likely than media publications to have content with positive sentiment toward various cryptocurrencies.”In a similar vein, to look at the impact that social media influencers have on the crypto industry, we can turn to a few high-profile individuals such as Elon Musk and LA Chargers’ star Russell Okung, both of whom have been advocating for the widespread adoption of crypto for quite some time now. In fact, Okung has sent out several requests to the NFL, asking the league (since the start of 2019) to provide its employees with the option of getting paid in crypto — a petition that is backed by fellow NFL star Matt Barkley.
Looking aheadIt thus appears as though the crypto market will continue to grow, mainly because people want to find newer economic avenues that are free from the involvement of any corporations or government-controlled agencies. However, a lot of this growth will depend on the use cases that emerge from this space. Also, as social media continues to play an ever-increasing role in arenas such as politics and public affairs, there is no reason to doubt its utility when it comes to crypto adoption.
Bullisher Bitcoin-Bericht von JP Morgan: Das sind die 3 wichtigsten Punkte. Von. Martin Schwarz - 27. Oktober 2020 . 0. WhatsApp. Twitter. Facebook. Linkedin. Email. Pinterest. Tumblr. Google+. Am Freitag hat die Wall-Street-Bank JPMorgan einen Bericht veröffentlicht, der ausführlich die neuesten Trends bei Bitcoin und Kryptowährungen behandelt. Das Wissen um einen neuen Bericht hat den ... Quadriga, Canada's biggest cryptocurrency exchange, said it's unable to gain access to $145 million of bitcoin and other digital assets after Gerald Cotten, its 30-year old CEO and co-founder ... Jamie Dimon, CEO von JP Morgan, war laut Fortune-Journalist und Autor Jeff Roberts bereits 2018 Gastgeber geheimer Treffen mit Brian Armstrong, CEO von Coinbase. Er gab die Informationen preis, während er für sein Buch „Kings of Crypto“ wirbte, das Coinbases Aufstieg zur Bekanntheit – zusammen mit seinen vielen Stolpern – behandelt. Am 12. Mai gab das Wall Street Journal bekannt ... Warum der Bitcoin in der jüngsten Vergangenheit einen derart großen Absturz erlebt hat, führt der Binance-CEO also nicht auf den Verlust seiner grundsätzlichen Eigenschaften zurück ... Dies betrifft insbesondere die (in diesem Fall nicht vorhandene) Dezentralität. Anders als der durch Professoren entwickelte unit-e wird der JPM Coin damit keine Konkurrenz für Bitcoin. J.P. Morgan ist mit einer Bilanzsumme in Höhe von 2,6 Billionen USD die größte US-amerikanische Bank. Featured Image: taoufiq94 / Shutterstock.com Der Binance Coin, der auch als BNB bezeichnet, ist der native Coin der Kryptowährungsbörse Binance, die auf der Ethereum-Blockchain unter Verwendung des ERC20-Token-Standards aufgebaut wurde.Binance hat 200 Millionen BNB ausgeben. Das primäre Ziel war es, die Börse zu fördern und gleichzeitig den Händlern und Liebhabern von Kryptowährungen Bequemlichkeit und Erschwinglichkeit zu bieten. Anleitung: einfach in Bitcoin Investieren in drei Schritten Schritt 1: Konto bei Trading Plattform eröffnen. Bevor man in Bitcoin investieren kann, muss man sich als erstes ein Konto bei einer Trading Plattform erstellen, die die Währung unterstützt.. Dabei fällt unsere Wahl auf eToro.Hier ist die Kontoeröffnung besonders einfach und benötigt noch nicht einmal eine Verifizierung bei ... Dies sind die ersten Exchanges, welche von JP Morgan unterstützt werden. Laut WSJ hätten beide einen langen Prozess von Überprüfungen durchlaufen, seien im vorangegangenen Monat angenommen worden und würden aktuell bereits bedient werden. Zu den Dienstleistungen würden etwa Clearing House (ACH)-Transaktionen und Cash Management gehören. „Zeit“, so Aleks Svetski, CEO und Mitbegründer der Bitcoin-Investitionsplattform Amber, gegenüber Cointelegraph in einer E-Mail. „Dies ist KEINE technologische Revolution“, stellte er klar und fügte hinzu: „Es ist eine monetäre Revolution – die (traditionell) Jahrhunderte braucht, um sich zu manifestieren, während Bitcoin im digitalen Zeitalter dies wahrscheinlich in ... Changpeng Zhao, CEO der führenden Exchange Binance, gab kürzlich der russischen Nachrichtenseite RBC ein Interview. Darin ging es unter anderem darum, dass Binance in Kürze die Umwandlung von russischen Rubel in Kryptowährungen anbieten wird. Dies soll in solle in etwa zwei Wochen eingeführt und über Drittanbieter abgewickelt werden ...
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