Sentimental Analysis: Positive Rising for Bitcoin and Ethereum While Neutral Rising For XRP


Sentimental Analysis: Positive Rising for Bitcoin and Ethereum While Neutral Rising For XRP

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. 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: 88

Positives: 50.7 %

Negative: 4.2%

Neutral- 45.1%

Positive to Neutral- Positives rising
#BTC- Social Media Mentions Social Mention Sentiment 5:1 in favor of positives

With 15 scores towards neutral and 172 in favor of Positives

Positive to Neutral
Fear to Greed Index Alternative.me Score 44–Fear Negative
Fear to Greed Index CNN Money Score 72-Greed Positive

 

Bitcoin had a midweek jump which starred the sentiment towards neutral to positive although the prices of the top coin received back to USD 3800 levels. The greed and fear index is still moving higher and inching into the greed zone. Bitcoin looks pretty safe over the support levels of USD 3500 and unless something radically goes wrong the bitcoin looks range bound between USD 3500 and USD 4000

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 – 85

39.2% Positive

3.4% Negative

57.4%- Neutral

15:1 towards Positives

Neutral 62

Neutral to Positive- Positive rising
XRP- Ripple Score 85

23.7% Positive

5.6% Negative

70.7% neutral

2:1 towards Positives

Neutral 108

Neutral to Positive, Neutrals rising
BCH- Bitcoin Cash Score 82

27.0 % Positive

8.6% Negative

64.4% Neutral

7:0 towards positives

Neutral 19

Neutral to Positive- Neutrality rising
EOS Score 88

24.2% Positive

1.9% Negative

73.9%- Neutral

8:1 towards positives

Neutral 100

Neutral to Positive-

Neutral rising

XLM-Stellar Score 90

47.4% Positive

1.9% Negative

50.7% Neutral

1:1 towards positives

Neutral 148

Neutral

 

Sentiment for most of the altcoin has been neutral to positive as most coins remain range bound. Ethereum had a smooth and successful upgrade which has got the sentiment slightly positive for the coin. Rest of the market still awaits some positivity to flow in for the prices to spike up again

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

 

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Sentimental Analysis for Cryptocurrencies- March 03
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Sentimental Analysis for Cryptocurrencies- March 03
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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.
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Nilesh Maurya

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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Nilesh Maurya 686 Articles

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.

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