What is the Reddit community saying about Crypto? Weekly update #3
Every week I check what the Reddit Community is saying about crypto. I do this by scraping the comments of the daily discussion of the Cryptocurreny Reddit page (with over 680.000 readers) using Python. In total over 1.100 comments were placed on the 4th of June. I compare the comments with past weeks. Here are the results:
|April (20th) Top 10||May (26th) Top 10||June (5th) Top 10|
|1. Bitcoin (165x)||1. Bitcoin (114x)||Bitcoin (125x)|
|2. Market (113x)||2. Crypto (65x)||Crypto (73x)|
|3. Crypto (102x)||3. Buy (59x)||Market (68x) ⇧|
|4. Money (90x)||4. Market (58x)||Buy (62x) ⇩|
|5. Coins (88x)||5. Up (57x)||Money (47x) ⇧|
|6. Price (76x)||6. Money (43x)||Blockchain (47x) ♦|
|7. Coin (74x)||7. Down (40x)||Coin (46x) ⇧|
|8. Pump (57x)||8. Coins (36x)||Sell (38x) ♦|
|9. Down (51x)||9. Ethereum (34x)||IOTA (32x) ♦|
|10. Nano (48x)||10. Nano (34x)||Nano (28x)|
The table above shows the top 10 words used in the comments of the 4th of June and previous dates. As we saw last time the top 10 roughly remains the same. As always, Bitcoin still is the most mentioned word on the forum. New words in the top 10 are: Blockchain (47x), Sell (38x) and IOTA (32x). The term “Buy” is used less and “Up” disappeared from the top 10, also the term Sell is used more maybe signaling an expected down trend. The currency IOTA is mentioned more because of the recent attention of the Qubic project. Other currencies mentioned besides Bitcoin (114x), IOTA (32x) and Nano (28x) are: Ethereum (27x), EOS (23x) and VeChain (18x). EOS is mentioned a lot more than last time (EOS was only mentioned 8 times), this is probably because the EOS software was released making it possible to launch a mainnet (also mentioned a lot (24x)). Other discussion terms mostly seem to concern trading/the market like: Hold (28x), Bull (27x), Price (24x), Dump (21x), Bear (20x), Buying (19x) and Sold (17x). Crypto exchanges were mentioned more than last time: Exchanges (24x), Coinbase (15x) and Binance (11x).
Next week I will once again compare the results to previous findings and try to add context to the results. Until next week!