Sentimental Analysis for Cryptocurrencies- November 18


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Sentimental Analysis for Cryptocurrencies- November 18

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: 37.8%

Negative: 5.6%

Neutral- 56.7%

Neutral to Positive- Sharp decline in positives
#BTC- Social Media Mentions Social Mention Sentiment 1:1 in favor of positives

With 33 scores towards neutral

Extreme Neutral
Fear to Greed Index Alternative.me Score 26–Fear Negative to Neutral
Fear to Greed Index CNN Money Score 10 -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 with a meltdown already behind us, Bitcoin is available at some attractive valuations. On the other side,things are still unclear with respect to hash wars and hence the sentiment is pretty neutral on the other indicators

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

43.4% Positive

6.1% Negative

50.5%- Neutral

11:1 towards Positives

Neutral 174

Neutral to Positive- Dipping Positives
XRP- Ripple Score 87

37.6% Positive

5.5% Negative

57.0% neutral

13:1 towards Positives

Neutral 82

Neutral to Positive, Positive Rising
EOS Score 78

33.4% Positive

9.3% Negative

57.3%- Neutral

11:1 towards positives

Neutral 108

Neutral to Positive-

Neutrals moving to positives

XLM-Stellar Score 98

44.8% Positive

0.5% Negative

54.7% Neutral

9:1 towards positives

Neutral 62

Neutral to Positive, Positive rises sharply

*BCH forked – No enough data for the two available forks

Bitcoin Cash underwent a fork this week the meltdown before that has bought most coins to attractive levels. This has led to the sentiment of altcoins turning positive. Apart from Ethereum which has recently moved to third place still has some negative sentimental pressures, the rest of the coins have a sentimental positive.

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- November 18
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Sentimental Analysis for Cryptocurrencies- November 18
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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.
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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 679 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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