BNC launches Bitcoin ‘Twitter Sentiment’ data

Launching this week, the Bitcoin sentiment data is a result of 18 months of work by BNC Research. Over 34 million tweets are analysed on a weekly basis by BNC’s language detection AI algorithms which search for tweets that contain ‘#bitcoin’, ‘bitcoin’, ‘$BTC’, ‘BTC’ and a few other key phrases in the body of the tweet.

*40 million tweets boiled down to a single infographic *

The results are then characterized as falling into one of seven categories.

Opinion: Tweets with ‘opinion’ words but few theoretical insights.

Technical: Broadly the Technical Analysis category.

Onchain: Tweets covering subjects like mining, hashrate, stock-to-flow etc.

Ad: Promotional tweets. Typically connected to exchanges and crypto sector companies self-promoting.

Bots: Tweets not sent by humans. Often tied to scams and giveaways.

Macro: Tweets by governments, major banks and similar institutions. Macro-type statements with the ability to impact sentiment.

Hack events: Tweets discussing hacks or network fork issues.

BNC spokesperson Pierre Ansaldi says the company will roll out sentiment analysis for several other major digital assets during Q1 2020.