Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading to. Although most of the sentiment is derived from the sentiment of the Bitcoin – the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let’s look at the few indicators that are used widely across to determine the sentiment.

Bitcoin Sentimental Analysis

As mentioned it’s the largest coin in the market that decides most of the trend for the crypto markets is necessary to understand that sentiment it garners among the community. A lot of news flow and sell off has dampened the short term sentiment but yes there are some long-term positives which make Bitcoin an interesting study. An analysis of its social mention and greed and fear index would give us a clear idea of what is happening

Analysis Type	Tool	Analysis- Score	Sentiment
#BTC – Hashtag Analysis	Keyhole	Score: 75 Positives: 23.3% Negative: 12.7% Neutral- 64.0%	Neutral moving to Neutrals rise
#BTC- Social Media Mentions	Social Mention	Sentiment 9:0 in favor of positives With 46 scores towards neutral and 9 in favor of Positives	Neutrality raising
Fear to Greed Index	Alternative.me	Score 39–Fear	Neutral
Fear to Greed Index	CNN Money	Score 58 -Greed	Positive

Neutrality seems to be the theme with Bitcoin as the price has been stagnating around USD 3500. The Greed and fear index is slowly rising moving from extreme fear zone to more towards greed. Looks like the stability will continue unless some major setback is sighted in the coming week

Altcoin Sentimental Analysis

Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it

Altcoin	Keyhole #  analysis	Social Mention	Sentiment
ETH- Ethereum	Score – 82 27.3% Positive 5.7% Negative 67%- Neutral	15:1 towards Positives Neutral 51	Neutral moving towards positive
XRP- Ripple	Score 84 31.8% Positive 5.6% Negative 62.6% neutral	12:0 towards Positives Neutral 79	Neutral to Positive, Positive rising
BCH- Bitcoin Cash	Score 72 30.3 % Positive 11.6% Negative 58.2% Neutral	9:1 towards positives Neutral 15	Neutral to Positive- Positives sneaking up
EOS	Score 84 32.1% Positive 6.0% Negative 61.9%- Neutral	10:1 towards positives Neutral 134	Neutral to Positive- Positives rising
XLM-Stellar	Score 92 44.1% Positive 3.8% Negative 52.2% Neutral	5:1 towards positives Neutral 159	Neutral to Positive, Neutrals rising

 

All altcoins seem to be moving on the positive side apart from XLM which is seeing a bit of neutrality. With sentiment on the positive side, prices rise across altcoins could be sighted in the coming days.

Will this sentiment actually pull back the prices? Do let us know your views on the same.