Btc price reddit

The graph it spat out showed a very clear correlation between the Bitcoin price and the number of Reddit comments.

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So the question is: does an increase Bitcoin price precede the volume of comments increasing or is it the other way around? Note the x-axis is of the form year-week. So what about that noticeable weakening in correlation in the past six months between the Bitcoin price — which has been going up — and the number of Reddit comments, which have not?

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Smith also attempted a similar experiment with the other top ten coins — but found those with non unique names that might be mentioned for non related reasons such as Ripple or Tether were difficult to analyse. He did examine Ethereum, whose price looks even more correlated with Reddit comments than Bitcoin, while Litecoin showed a similar divergence between price and comments as Bitcoin did.

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Reddit comments correlated with BTC price for years – but no more

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