Sentimental Analysis for Cryptocurrencies- February 10

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Sentimental Analysis for Cryptocurrencies- February 10

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: 92

Positives: 54.7 %

Negative: 4.2%

Neutral- 41.1%

Positive to Neutral- Positives rising
#BTC- Social Media Mentions Social Mention Sentiment 8:1 in favor of positives

With 15 scores towards neutral and 172 in favor of Positives

Positive to Neutral
Fear to Greed Index Alternative.me Score 42–Fear Negative
Fear to Greed Index CNN Money Score 61 -Greed Positive

 

So Bitcoin is forming a base close to 3600 and that is what keeps the sentiment neutral to positive. The greed and fear indexes are still showing divergent views of fear and greed indicating the non-decisiveness and cautiousness in the market all though things are improving

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 – 89

38.2% Positive

4.4% Negative

57.4%- Neutral

15:1 towards Positives

Neutral 62

Neutral to Positive- Positive rising
XRP- Ripple Score 90

23..7% Positive

2.6% Negative

73.7% neutral

2:1 towards Positives

Neutral 108

Neutral to Positive, Neutrals rising
BCH- Bitcoin Cash Score 80

29.6 % Positive

7% Negative

63.4% Neutral

7:0 towards positives

Neutral 19

Neutral to Positive- Neutrality rising
EOS Score 91

21.2% Positive

1.9% Negative

76.9%- Neutral

8:1 towards positives

Neutral 100

Neutral to Positive-

Neutral rising

XLM-Stellar Score 95

43.4% Positive

1.9% Negative

54.7% Neutral

1:1 towards positives

Neutral 148

Neutral

 

Sentiment for most of the altcoin has been neutral to positive as most coins remain range bound. The only standout here is Ethereum which has seen some sharp rise in price due to some positive sentiment. XLM has gone extreme flat on sentiment turning neutral completely.

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- February 10
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Sentimental Analysis for Cryptocurrencies- February 10
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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 583 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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