Online Sentiment Toward Crypto Market in 2019

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.

"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.

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.

When compared to the previous years, the general sentiment toward the crypto sector has certainly become less hostile.

As mentioned earlier, a host of recent surveys seem to suggest that more than 80% of all crypto talk online is positive.

"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.

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.

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.