Connect with us

Altcoin News

Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason

Published

on

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. 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: 30.3%

Negative: 12.7%

Neutral- 54.0%

Neutral moving to Positives
#BTC- Social Media Mentions Social Mention Sentiment 7:1 in favor of positives

With 81 scores towards neutral and 13 in favor of Positives

Positive raising
Fear to Greed Index Alternative.me Score 56–Greed Positive
Fear to Greed Index CNN Money Score 49 -Neutral Neutral

 Bitcoin has stuck over USD 4000 and that is what is keeping the sentiment from neutral to positive. The Greed and Fear Index is also towards greed side signifying there could be further upside to this rally. While the rally may continue, caution too would slowly creep in as the coin moves toward the upside of the range. Still, it looks like bulls may have more fun on the street.

Also Read: Top Trending Crypto News of the Week: The Bitwise Report, Bithumb, and Bitcoin ETF Among Major Newsmakers

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 – 82

27.3% Positive

5.7% Negative

67%- Neutral

81 towards Positives

Neutral 12

Neutral moving towards positive
XRP- Ripple Score 84

31.8% Positive

5.6% Negative

62.6% neutral

3:1 towards Positives

Neutral 78

Neutral to Positive, Positive rising
BCH- Bitcoin Cash Score 72

30.3 % Positive

11.6% Negative

58.2% Neutral

6:1 towards positives

Neutral 116

Neutral to Positive- Positives sneaking up
EOS Score 84

32.1% Positive

6.0% Negative

61.9%- Neutral

5:1 towards positives

Neutral 105

Neutral to Positive-

Positives rising

XLM-Stellar Score 92

44.1% Positive

3.8% Negative

52.2% Neutral

9:1 towards positives

Neutral 62

Neutral to Positive, Positives  rising

All altcoins seem to be falling the Bitcoin sentiment and moving on the positive side. There are some indications that we could see some price rise and Alt season may last a little longer. Unless some major setback is seen in any of the coins, the sluggish in the altcoins could subside in coming days

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

Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason

Article Name
Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason
Description
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.
Abhinav Agarwal
Publisher Name
Publisher Logo
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.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement
0
Advertisement

Recent Posts

Copyright © 2019 The Crypto Report