Sentimental Analysis for Cryptocurrencies- September 23

bitcoin

Sentimental Analysis for Cryptocurrencies- September 23

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: 87

Positives: 37.6 %

Negative: 5.4%

Neutral- 57%

Neutral to Positive, significant rise in positives
#BTC- Social Media Mentions Social Mention Sentiment 16:1 in favour of positives

With 170 score towards neutral

Neutral to Positive
Fear to Greed Index Alternative.me Score 38 – Fear Neutral to Positive- buying opportunities emerge
Fear to Greed Index CNN Score- 75- Greed Positive

 

The scenario on the crypto street has turned positive suddenly compared to last week. There fear has reduced and the outlook is more towards buying. The fear which was there last week is slowly creating opportunities and people seem to be taking advantage of it  

Also, read: Bitcoin’s Next Bull Run will be Steady and Institutional Driven says Michael Novogratz

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 93

50.0% Positive

3.7 % negative

46.3%- Neutral

20:1 towards Positives

Neutral 144

Neutral to Positive
XRP- Ripple Score 81

25.7% Positive

6.0% Negative

68.3% Neutral

21:1 towards Positives

Neutral 174

Neutral to Positive- Positives have risen significantly
BCH- Bitcoin Cash Score 92

31.9% Positive

2.8% Negative

65.3% Neutral

7:0 towards positives

Neutral 120

Neutral to Positive, fairy flat
EOS Score 94-

28.4% Positive

1.1% Negative

69.8%- Neutral

27:0 towards positives

Neutral 140

Neutral to Positive, positivity rising significantly
XLM Score 87

33.5% Positive

4.7 Negative

51.8% Neutral

5:0 towards positives

Neutral 120

Neutral to positive, positivity rising significantly

 

XRP’s rise has bought positivity to the whole bunch of altcoins as it has bought to BTC. Looks like cryptocurrencies are gaining attention again and this fresh drive will get in more investors.

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- September 23
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Sentimental Analysis for Cryptocurrencies- September 23
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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.
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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 690 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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