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: 64 Positives: 23.3% Negative: 12.7% Neutral- 64.0%	Neutral moving to Negative- Negatives double, Positives dip
#BTC- Social Media Mentions	Social Mention	Sentiment 3:1 in favor of positives With 192 scores towards neutral and 3 in favor of Positives	Neutrality raising , Positives Dipping
Fear to Greed Index	Alternative.me	Score 9–Extreme Fear	Negative
Fear to Greed Index	CNN Money	Score 9 -Extreme Fear	Negative

 

Extreme Fears on both Fear and Green Index cclearly showing that people are exiting the markets. The same is seen on Social Media as people have been negative towards the front liner. The sentiment seems gloomy and it looks like the bottom is still a bit far away for now.

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	5:1 towards Positives Neutral 77	Neutral moving to Negative- Sharp falls in Positive
XRP- Ripple	Score 84 31.8% Positive 5.6% Negative 62.6% neutral	4:0 towards Positives Neutral 21	Neutral to Positive, Neutrality rising
BCH- Bitcoin Cash	Score 72 30.3 % Positive 11.6% Negative 58.2% Neutral	3:1 towards positives Neutral 116	Neutral to Positive- Positives sneaking up
EOS	Score 84 32.1% Positive 6.0% Negative 61.9%- Neutral	4:1 towards positives Neutral 16	Neutral to Positive- Postives rising
XLM-Stellar	Score 92 44.1% Positive 3.8% Negative 52.2% Neutral	2:1 towards positives Neutral 62	Neutral to Positive, Positive rising

 

As the BCH hash war ends, positivity seems to be returning back to the coin. The same has been the case with EOS and XLM which has remained silent as the prices have spiraled down. XRP seems to be entering a neutral zone while ETH is clearly losing some positivity as its looms near USD 100 support levels.

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