Sentimental Analysis for Cryptocurrencies- September 30

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Sentimental Analysis for Cryptocurrencies- September 30

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: 73

Positives: 31.8%

Negative: 11.4%

Neutral- 56.8%

Neutral to Positive- Neutral rise significant
#BTC- Social Media Mentions Social Mention Sentiment 7:0 in favor of positives

With 124 scores towards neutral and 7 in favor of Positives

Neutral to Positive
Fear to Greed Index Alternative.me Score 34 – Fear Neutral
Fear to Greed Index CNN Money Score 48 -Neutral Neutral

   

All indicators are pointing towards neutrality for BTC. With BTC stuck between USD 6300 and USD 6700 for a couple of week people are turning neutral towards bitcoin as there is no significant news that can break the resistance of USD 7000 or support of USD 6000, giving indication that the Bitcoin is stabalizing, consolidating and more importantly maturing.

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 – 87

53.3% Positive

7.6% Negative

39.1%- Neutral

8:1 towards Positives

Neutral 144

Neutral to Positive- Positives rising
XRP- Ripple Score 75

22.1 % Positive

7.4% Negative

70.5% neutral

2:1 towards Positives

Neutral 179

Extremley Neutral
BCH- Bitcoin Cash Score 82

40 % Positive

8.8% Negative

51.3% Neutral

6:1 towards positives

Neutral 121

Neutral to Positive- Postivies returning sharply
EOS Score 84

29.6% Positive

5.6% Negative

64.8%- Neutral

6:1 towards positives

Neutral 152

Neutral to Positive
XLM-Stellar Score 97

42 % Positive

1% Negative

57% Neutral

12:1 towards positives

Neutral 163

Extreme Positive

 

While Bitcoin is truning neutral, Ethereum after struggling for a week has shot up into positive mostly because of being in an oversold territory but stabilizing above USD 200. Altcoins overall is gaining attention with the sharp rise in positives for XRP and XLM. For EOS things are flat to positive while for BCH, positivity seems to be returning sentimentally after being neutral for a couple of weeks.

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 30
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Sentimental Analysis for Cryptocurrencies- September 30
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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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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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