Sentimental Analysis: Extreme Fear for Bitcoin while Positives Rising for XLM and EOS

sentimental Analysis

Sentimental Analysis: Extreme Fear for Bitcoin while Positives Rising for XLM and EOS

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: 72

Positives: 23.3%

Negative: 9.7%

Neutral- 66.0%

Neutrals rising
#BTC- Social Media Mentions Social Mention Sentiment 3:1 in favor of positives

With 170 scores towards neutral and 10 in favor of Positives

Neutrality rising
Fear to Greed Index Alternative.me Score 21–Extreme Fear Negative
Fear to Greed Index CNN Money Score 30 – Fear Negative

 

As Bitcoin is now below USD 4000 and hovers close to USD 3600, the fear on the street is still consistent. The two fear and greed index still show pretty high fear levels. But the other two social media analysis indicators show a rise in neutrality stating that the street is pretty much undecided where the coin would be heading to.

Altcoin Sentimental Analysis

Fear and Greed index is only available for BTC as not many 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

16:1 towards Positives

Neutral 101

Neutral, Sharp rise in Positive
XRP- Ripple Score 84

31.8% Positive

5.6% Negative

62.6% neutral

2:1 towards Positives

Neutral 171

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

8:1 towards positives

Neutral 54

Neutral to Positive-

Positives rising

XLM-Stellar Score 92

44.1% Positive

3.8% Negative

52.2% Neutral

17:1 towards positives

Neutral 176

Neutral to Positive, Positive rising

 

While XRP has again regained the No. 2 spot from Ethereum,  its sentiment still remains weak and has moved from positive to the neutral zone. Ethereum, that saw a sharp fall last week is getting ready for its Constantinople fork and is now building up some positive sentiment. The Ethereum effect is also seen on the other Altcoins with BCH, EOS, and XLM all showing some positivity.

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- January 13
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Sentimental Analysis for Cryptocurrencies- January 13
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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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Nilesh Maurya 549 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. Reach out to him at 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. Reach out to him at [email protected]

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