We track millions of social media posts and use machine learning to determine sentiment for 200+ of cryptocurrencies in real-time. An interesting happened yesterday regarding the sentiment of cryptocurrencies, most had their sentiment fall.
See examples, first Bitcoin:
Sentiment is often ahead of the price and you can start using sentiment data like this to improve your cryptocurrency trading by using our platform www.bittsanalytics.com.
Below you can find a scatter plot of over 150 main cryptocurrencies plotted against one week returns and yesterdays returns. As you can see Bitcoin Cash is really towering above almost all of the cryptocurrencies. Returns are based on EOD prices. Bitcoin Cash delivered another huge return today as well. It is possible that the Bitcoin Cash is viewed as having less competition from Bitcoin after cancellation of Segwit2x. Bitcoin is already firmly established in the domain as storage of value. It will be interesting to watch the relative performance of Bitcoin and Bitcoin Cash in the next few weeks. If you would like to also use our platform to generate and other interesting charts and insights please visit us at our website www.bittsanalytics.com
Bitcoin Cash is currently surging price. Also surging is the social media interest in Bitcoin Cash as well as its real-time sentiment that we determined with machine learning from tweets about it:
One possible reason is that after cancellation of segwit2x for bitcoin, the latter will be viewed less as a competitor in transaction space and more as a storage of value.