The importance of the sentiment on Twitter for bitcoin

Every day Twitter users post 22,000 of messages with the hashtag #Bitcoin and these tweets can collectively represent market sentiment. Zach Wheeler (Crypto Briefing) explains that sentiment analysis has proven to be a powerful leading indicator for future cryptocurrency prices. So increasingly positive sentiment on Twitter has been strongly correlated to predict upswings in the price of bitcoin, and vice versa. These correlations point toward a strong short-term outlook for both bitcoin and ethereum.