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: 48.7% Negative: 4.6% Neutral- 46.7%	Neutral to Positive- Positive seem a mild rise
#BTC- Social Media Mentions	Social Mention	Sentiment 8:1 in favor of positives With 176 scores towards neutral and 16 in favor of Positives	Neutral to Positive
Fear to Greed Index	Alternative.me	Score 41–Fear	Negative to Neutral
Fear to Greed Index	CNN Money	Score 8 -Extreme Fear	Negative

   

Both Fear and Greed Index are looping towards extreme fear and Fear side indicating that the general sentiment would be to sell. But the Keyhole and Social Mention analysis still has some positives backing them. Looks like the stability of Bitcoin is still going to continue and we may see buy on dips if BTC hovers near USD 6200-USD 6300.

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 – 90 49.5% Positive 5.5% Negative 45.1%- Neutral	14:0 towards Positives Neutral 150	Neutral to Positive- looping to positives
XRP- Ripple	Score 86 28.5% Positive 4.4% Negative 67.1% neutral	6:1 towards Positives Neutral 173	Neutral to Positive, Neutrality rising
BCH- Bitcoin Cash	Score 65 18.8 % Positive 10% Negative 71.3% Neutral	4:1 towards positives Neutral 186	Neutral to Positive- Neutrality rising
EOS	Score 77 26.3% Positive 7.7% Negative 66.0%- Neutral	8:1 towards positives Neutral 149	Neutral to Positive- Neutrality rising
XLM-Stellar	Score 91 37.2% Positive 3.6% Negative 59.2% Neutral	6:0 towards positives Neutral 127	Neutral to Positive, Positive rises but Neutrality dips

 

Most top altcoins are replicating the Bitcoin’s stability although there have been a minor positive push in many. For BCH after a stellar past week now things seem to be getting into neutral territory. Rest all looks stable and unmoved unless something drastically goes positive.

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