Combing through online news articles and posts on blogs published from November 18 through December 19, the K-ICT found 982 of 1,614 keywords (60.8 percent) pertaining to Bitcoin were negative. (Image: Yonhap)
SEOUL, Dec. 29 (Korea Bizwire) – For better or worse, cryptocurrency has become a subject of intense interest this year, as skyrocketing valuations – of Bitcoin in particular – had amateur and experienced investors alike salivating, while the government grew increasingly uneasy over the effect the bull market was having on society at large.
Most South Koreans appear to think the cryptocurrency boom is for the worse, according to research by the K-ICT Big Data Center (K-ICT). Combing through online news articles and posts on blogs published from November 18 through December 19, the K-ICT found 982 of 1,614 keywords (60.8 percent) pertaining to Bitcoin were negative.
Only 29.5 percent, or 477 words were positive, with 155 deduced as neither positive nor negative.
The vast majority of negative words indicated worries over the security of Bitcoin and the extreme fluctuation of the cryptocurrency’s valuation. Some examples were “concern”, “hacking”, “loss”, “crime” and “danger”.
Examples of positive words/phrases were “rising value” and “heated investment activity”.
The vast majority of negative words indicated worries over the security of Bitcoin and the extreme fluctuation of the cryptocurrency’s valuation. (Image: Yonhap)
American financial market firm CME Group, which recently announced it will bring Bitcoin futures to market, and Ethereum, another cryptocurrency popular with investors, were also frequently mentioned in association with Bitcoin. The Chicago Board Options Exchange (CBOE) was also a topic of discussion.
With the United States Federal Reserve another common appearance, there was considerable interest in Bitcoin-related news and information generated abroad.
Mentions of Bitcoin spiked in early December, when reports of its extreme volatility attracted widespread attention.
Lina Jang (linajang@koreabizwire.com)
