2018 Cryptocurrency and Bitcoin Activity on Reddit is Skyrocketing Compared to 2017
Reddit Crypto Growth in 2017
According to data from CrowdTangle and MarketWatch, interactions on the most important crypto subreddits increased 930% in 2017, the year when Bitcoin moved from $1,000 dollars up to $20,000 dollars.
On the most important bitcoin forums, subscribers grew over 66%. Interactions have also experienced a dramatic growth registering a 315% increase between January and August, 2017.
Bitcoin’s forum moderators explained that they have seen an average rate of 1,300 new users per day during the second quarter of 2017. Moreover, they informed that the number of page views has also increased compared to previous months, growing 59% compared to July, 2017.
Pageviews on Reddit increased from 12.4 million in May, 12.6 million in June, 14.6 in July and 23.2 million in August, 2017.
This shows that there is a very big relation between Bitcoin price and the number of redditors on the famous social network.
Moreover, moderators indicated that August 1, 2017, the day of BIP148 activation and the day of the launch of Bitcoin Cash (BCH), was the day with the highest traffic. The group registered more than 1.5 million views.
For example, the CryptoCurrency subreddit has almost quadrupled the subscriber count in just a few months between January and August, 2017. The Ethtrader subreddit has also experienced an 880% increase during the same months of the last year.
In 2018 Reddit Has Also Grown
However, the trend continued during 2018. At the end of 2017, Bitcoin reached $20,000 and the crypto community was very excited about this. Later in January, several altcoins started to experience a bullish trend and most of them registered all time highs.
At the moment of writing the CryptoCurrency subreddit has 738.374 subscribers, an increase of over 470% in one year. That means that the subreddit received more than 1,600 new redditors per day.
The same happened with Litecoin and its subreddit. In one year, from September 2017, until today, the number of redditors increased 235%. Bitcoin, instead, registered an increase of 184%. In September 2017 it had 329,694 followers and one year later it has more than 935,000 redditors.
At the same time, the subreddit Bitcoinmarkets registered a smaller, but not less impressive, growth of 146% in just a year compared to September 2017.
This shows that the cryptocurrency community has growth in 2017 and 2018 at really good rates. The bull market experienced in 2017 helped to attract individuals to the market. Nonetheless, the bear market experienced in 2018 did not expelled users but instead, the number of Redditors continued to increase.
It would be very interesting to see what would happen in one year. If there is a bull market, the number could increase even further. If the bear market continues, the figures could increase but at slower rates.