Sentimental Analysis for Bitcoin and Altcoins 26 August

26 Aug, 2018 Updated 05 Apr, 2022

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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 X at @KoinKing1 or connect with me on linkedin.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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: 91 Positives: 43.6 % Negative: 3.8% Neutral- 52.6%	Neutral to Positive, significant rise in positives
#BTC- Social Media Mentions	Social Mention	Sentiment 8:1 in favor of positives With 170 scores towards neutral	Neutral to Positive
Fear to Greed Index	Alternative.me	Score 19 -Extreme Fear	Negative
Fear to Greed Index	CNN	Score- 68- Greed	Positive

While the two analysis shows a neutral to the positive indication, the fear to Greed Index from two sources give a very divergent view, the overall scenario looks positivity returning to the street, which in a way is a sign that buying opportunities are available and one can look for price spiking. A buy maybe recommended but caution needs to be in place.

Also, read : Bitcoin Bounces over $6,700 & Altcoins Go Green, But Expert Says it can get Really Ugly

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 91- 38.3% Positive 3.7 % negative 58%- Neutral	1:1 towards Positives Neutral 27	Neutral
XRP- Ripple	Score 88 21.6 % Positive 2.7% Negative 75.7% Neutral	2:1 towards Positives Neutral 115	Neutral to Positive
BCH- Bitcoin Cash	Score 97 34.4 % Positive 1.0% Negative 64.6% Neutral	5:0 towards positives Neutral 119	Neutral to Positive, with positivity insignificant rise
EOS	Score 96- 43.8% Positive 1.4 Negative 54.8%- Neutral	8:1 towards positives Neutral 105	Neutral to Positive
XLM-Stellar	Score 100 49.4% Positive 0 Negative 50.6% Neutral	6:0 towards positives Neutral 146	Neutral

Even with volatility in prices, the social media sentiment with most altcoins just like the Bitcoin is neutral to positive. BCH is suddenly gaining traction and Ethereum and Stellar just moved to a neutral zone. These two coins are poised really well and could move in any direction as the news flow pours in

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

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.