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: 90 Positives: 54.7 % Negative: 4.2% Neutral- 41.1%	Positive to Neutral- Positives rising
#BTC- Social Media Mentions	Social Mention	Sentiment 2:1 in favor of positives With 9 scores towards neutral and 113 in favor of Positives	Positive to Neutral
Fear to Greed Index	Alternative.me	Score 55–Greed	Positive
Fear to Greed Index	CNN Money	Score 72-Greed	Positive

   

Well, Bitcoin has been in touching distance of USD 4000 after a long time, in fact, it has spiked a couple of times over USD 4000 on some exchanges across the globe. Clearly looks like the bulls have got the sentiment positive. There is still neutrality in some indicators as people are getting cautious that there could bear coming to draw the markets downs. If the coin moves and stays above USD 4000 there could be a sought of further positive momentum.

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	4:1 towards Positives Neutral 7	Neutral to Positive- Positive rising
XRP- Ripple	Score 85 23.7% Positive 5.6% Negative 70.7% neutral	11:1 towards Positives Neutral 103	Positive to Neutral, Positives rising
BCH- Bitcoin Cash	Score 82 27.0 % Positive 8.6% Negative 64.4% Neutral	6:1 towards positives Neutral 143	Positive to Neutral- Positives rising
EOS	Score 88 24.2% Positive 1.9% Negative 73.9%- Neutral	0:0 towards positives Neutral 1	Neutral
XLM-Stellar	Score 90 47.4% Positive 1.9% Negative 50.7% Neutral	8:0 towards positives Neutral 168	Positive to Neutral- Positives rising

 

Sentiment for most of the altcoin has been positive thanks to the upmove in Bitcoin. A couple of times this week when the market was completely green. Ethereum smooth upgrade has kept sentiment slightly positive for the coin and has bought it back in the game. XRP and XLM both are showing a positive move on sentiment.

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