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RE: Steemit Crypto Academy Contest / S16W5: Navigating the STEEM Token.

in SteemitCryptoAcademy3 months ago

Greetings friend,
Very true, as with the rise of technology and social media platforms like Twitter, Facebook, YouTube, Instagram, and Telegram, they've become major data consumers. Almost everyone in the world, from young to old, uses these platforms, and news spreads like wildfire in just minutes.

We all follow communities on social media that match our interests. Well, the same goes for the STEEM community. Whatever discussions or news pops up related to STEEM, the community absorbs it in no time.

Now, here's where sentiment analysis comes in. By checking out what the STEEM community is saying on social media, we can get a sense of how investors feel about the STEEM token at any given moment. If the discussions and posts are positive, it means the community is interested in investing, which increases demand. On the flip side, if discussions are negative, it means investors might not be interested or could be thinking of selling.

So, positive sentiment boosts demand for the token, while negative sentiment can decrease demand or increase supply. It's like the law of supply and demand in action. Good luck in the contest.

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 3 months ago 

Indeed, social media platforms play a significant role in shaping public opinion and sentiment, including within communities like STEEM. Sentiment analysis provides valuable insights into investor attitudes, influencing market dynamics.

It's fascinating how quickly news and discussions can impact demand and supply dynamics.

Thank you for sharing your insights on my blog, and best of luck in the contest!

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