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Sentimental Analysis for Cryptocurrencies- January 20

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: 36.8%

Negative: 4.6%

Neutral- 58.7%

Neutral to Positive- Neutrals rise
#BTC- Social Media Mentions Social Mention Sentiment 2:1 in favor of positives

With 55 scores towards neutral

Fear to Greed Index Score 35–Fear Negative to Neutral
Fear to Greed Index CNN Money Score 52 -Neutral Neutral

Bitcoin has been a stable zone for over a couple of weeks. The stability somewhat assures that Bitcoin will not be breaching USD 3000 anytime sooner. The street is pretty undecided and looks to remain neutral on the prices. The fear and greed indexes have the first time, over past 2 months, have come in a neutral zone after being in the extreme fear territory.

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

17:0 towards Positives

Neutral 74

Neutral to Positive- Dipping Positives
XRP- Ripple Score 87

37.6% Positive

5.5% Negative

57.0% neutral

9:1 towards Positives

Neutral 99

Neutral to Positive, Positive Rising
BCH- Bitcoin Cash Score 80

27.6 % Positive

5% Negative

67.4% Neutral

5:0 towards positives

Neutral 169

Neutral to Positive- Neutrality rising
EOS Score 78

33.4% Positive

9.3% Negative

57.3%- Neutral

14:0 towards positives

Neutral 109

Neutral to Positive-

Neutrals moving to positives

XLM-Stellar Score 98

44.8% Positive

0.5% Negative

54.7% Neutral

3:1 towards positives

Neutral 76

Neutral to Positive, Positive rises sharply

Well, the Ethereum Constantinople Upgrade was delayed and that led to the sentiment dampness for Ethereum. While for most altcoins things were neutral, some positivity was noted in altcoins like XRP and XLM indicating their positive inroads to the financial industry.

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

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