Data shows the social media talk around Bitcoin has dropped to low levels recently, indicating that investors are paying attention to altcoins instead. Bitcoin Social Dominance Has Declined To Just 17% Recently According to data from the on-chain analytics firm Santiment, BTC-related discussions on social media have dropped recently. The relevant indicator here is “social dominance,” based on the concept of “social volume.” The social volume of any asset is a measure of the degree of talk it receives on the major social media platforms. The metric makes this measurement through a text-based data collection that Santiment has procured from different websites. A feature of the indicator is that it only counts the unique number of posts or messages that mention the coin. This means that if a thread receives many mentions of the cryptocurrency, its contribution to the social volume will remain just one unit. Related Reading: Bitcoin Bull Run May Not Begin Until This Ratio Reverses Trend This restriction helps the social volume provide a more accurate representation of the trend being observed throughout social m ..
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