Sentimental Analysis for Cryptocurrencies- October 28

Bitcoin sentimental analysis

Sentimental Analysis for Cryptocurrencies- October 28

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: 92

Positives: 45.0%

Negative: 2.4%

Neutral- 69%

Neutral to Positive- Neutrals rising
#BTC- Social Media Mentions Social Mention Sentiment 9:1 in favor of positives

With 167 scores towards neutral and 9 in favor of Positives

Neutral to Positive
Fear to Greed Index Alternative.me Score 35- Fear Neutral to Negative
Fear to Greed Index CNN Money Score 7 – Extreme Fear Negative

 

The fear on the street seems to be rising and seems like there could be a sell off. But Bitcoin stability is good enough to keep everything in control. USD 6300 wont be breached unless something drastically goes wrong. Looks like neutrals will continue to rise as bitcoin stability continues.

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 – 92

37.2% Positive

3.2% Negative

59.6%- Neutral

21:1 towards Positives

Neutral 156

Neutral to Positive
XRP- Ripple Score 85

33.3 % Positive

5.7% Negative

60.9% neutral

5:1 towards Positives

Neutral 162

Neutral to Negative,
BCH- Bitcoin Cash Score 91

33.3% Positive

3.2% Negative

63.5% Neutral

8:0 towards positives

Neutral 119

Neutral to Positive
EOS Score 91

29% Positive

2.5% Negative

68.5%- Neutral

8:1 towards positives

Neutral 150

Neutral to Positive
XLM-Stellar Score 82

36.8 % Positive

8.0% Negative

55.2% Neutral

7:0 towards positives

Neutral 127

Neutral to Positive,

 

All altcoins are showing the same stability what Bitcoin is showing. Everything stands neutral with a positive outlook though. It doesn’t look like moving either ways for any of the coins unless something drastically changes.

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- October 28
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Sentimental Analysis for Cryptocurrencies- October 28
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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.
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Author: Nilesh Maurya

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 Twitter at @KoinKing1 or connect with me on linkedin.

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Nilesh Maurya 689 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. 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 Twitter at @KoinKing1 or connect with me on linkedin.

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