Sentimental Analysis for Bitcoin, Ethereum, Ripple, EOS, Stellar

bitcoin

Sentimental Analysis for Bitcoin, Ethereum, Ripple, EOS, Stellar

Every week we provide you sentimental analysis for bitcoin and other altcoins. 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.

bitcoin sentimental analysis

“While the two analysis shows a neutral to the positive indication, the fear to Greed Index loops towards the fear side signifying investors are too worried, which will take the price down, which in a way is a sign that buying opportunities may soon be arriving.”

Also, read: Who Will Drive The Bitcoin Price, Bulls Or Bears? A Complete Sentimental Analysis of BTC

Altcoin sentimental analysis

Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it.

altcoin sentimental analysis

“Even with falling prices, the social media sentiment with most altcoins just like the Bitcoin is neutral to positive signifying there could be the pullback in prices after this sentimental correction.”

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

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Sentimental Analysis for Bitcoin, Ethereum, Ripple, EOS, Stellar
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Sentimental Analysis for Bitcoin, Ethereum, Ripple, EOS, Stellar
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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.
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COINGAPE
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Sunil Sharma 43 Articles

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past.

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