Social Media Sentiment Signal calling intermediate bottom for Bitcoin at 3700 USD

BittsAnalytics provides its users with real-time social media sentiment, calculated with machine learning from social media texts about individual cryptocurrencies. Social media sentiment has proved as a very valuable signal many times in the past and again in recent downturn, effectively signalling intermediate bottom at 3700 USD.

There were several days of severe negative social media sentiment for Bitcoin during recent correction, as evident from this picture, showing daily social media sentiment for Bitcoin:

Similar picture was seen for social media sentiment on hourly level.

After the first surge on October 22nd the price remained first flat and then fell after retreat in sentiment. Yesterday however came a second even stronger sentiment surge when Bitcoin was at around 3700 USD and this sentiment surged to new intermediate heights. Unlike previous surge, the positive sentiment trend persisted this time and Bitcoin price also followed afterwards.

Social media sentiment was thus again proven very valuable as a market sentiment indicator. It is available as part of our Advanced subscription, more information is available at:

https://www.bittsanalytics.com/subscribe.php

Social Media Sentiment also flashed warnings with Bitcoin at 6500 USD, you can read more in our previous blog:

Warning from our market sentiment indicator was again correct – flashing warnings with Bitcoin at 6500 USD

Ravencoin up 80% since the initial rally in real-time sentiment

BittsAnalytics platform offers real-time social media analytics for cryptocurrencies – determining number of social media mentions as well as sentiment on an hourly basis. This allows assessing both the current buzz about the cryptocurrency as well as its sentiment (positive or negative). Sentiment is determined by applying machine learning models on texts of social media posts.

In this post we focus on Ravencoin as another case study of application of sentiment analytics for profitable trading. On 17th October it had a big jump in sentiment, see our tweet from that time:

 

Ravencoin proceeded to make a return of over +80% after the sentiment signal. Real-time social media analytics tools are available as part of our advanced subscription, you can find more information at:

https://www.bittsanalytics.com/subscribe.php

For other recent examples of using real-time analytics read our recent blog posts:

Electroneum up 230% since a sentiment signal from real-time social media analytics

Ripple up more than 100% since a spike in social media mentions

Nano up more than 50% since surge in social media mentions on 11th September

 

 

Sentiment again a very useful warning signal for Bitcoin price

In this post we are looking at recent social media sentiment data for Bitcoin. Sentiment is determined with machine learning from analysis of texts in social media posts about Bitcoin.

By analysing first the sentiment on the daily basis we notice that it had a very strong spike a few days ago:

For those who are reading our blog posts over the last year, this usually means a major price decrease in the near future. For previous such examples of Bitcoin falling after reaching high levels of sentiment see e.g. one of our previous blog posts on this topic:

Bitcoin again falls after reaching sentiment high – for the fourth time the warning was correct

We have recently introduced an even more detailed sentiment analytics, on hourly level. If you examine the picture of hourly sentiment:

you will notice that although the prices were relatively high the sentiment was really on the lower part of historical range for the last 10 days. Just before the price fell, it was again near the trough. Especially concerning was also the development days ago when the hourly sentiment reached record levels without any major movement in price itself.

Our sentiment analysis tool was thus again proven extremely valuable for market timing. If you want to know more about it read our other blog posts or subscribe at:

https://www.bittsanalytics.com/subscribe.php

Siacoin rallies after real-time sentiment jump for a return of 20+%

BittsAnalytics platform offers real-time social media analytics for cryptocurrencies – determining number of social media mentions as well as sentiment on an hourly basis. This allows assessing both the current buzz about the cryptocurrency as well as its sentiment (positive or negative). Sentiment is determined by applying machine learning models on texts of social media posts.

In this post we focus on Siacoin as another case study of application of sentiment analytics for profitable trading. A few days ago it had a big jump in sentiment, see our tweet from that time:

Siacoin proceeded to make a quick return of over +20% after the sentiment signal. Real-time social media analytics tools are available as part of our advanced subscription, you can find more information at:

https://www.bittsanalytics.com/subscribe.php

For other recent examples of using real-time analytics read our recent blog posts:

Electroneum up 230% since a sentiment signal from real-time social media analytics

Ripple up more than 100% since a spike in social media mentions

Nano up more than 50% since surge in social media mentions on 11th September

 

 

Electroneum up 230% since a sentiment signal from real-time social media analytics

BittsAnalytics platform offers real-time social media analytics for cryptocurrencies – determining number of social media mentions as well as sentiment on an hourly basis. This allows assessing both the current buzz about the cryptocurrency as well as its sentiment (positive or negative). Sentiment is determined by applying machine learning models on texts of social media posts.

In this post we are focusing on Electroneum which had a big spike in social media sentiment a few days ago, see our tweet and chart from that time:

Electroneum made a rally after that initial spike from 0.0075 USD to over 0.025 USD for a return of more than 230%.

 

Real-time social media analytics tools are available as part of our advanced subscription, you can find more information at:

https://www.bittsanalytics.com/subscribe.php

For other recent examples of using real-time social media analytics check our recent blog posts:

Ripple up more than 100% since a spike in social media mentions

Nano up more than 50% since surge in social media mentions on 11th September

RChain up more than 50% since surge in social media mentions on 9th September

Fun up more than 30% since big jump in social media mentions on 12th September

Ripple up more than 100% since a spike in social media mentions

BittsAnalytics platform offers real-time social media analytics for cryptocurrencies – determining number of social media mentions as well as sentiment on an hourly basis. This allows assessing both the current buzz about the cryptocurrency as well as its sentiment (positive or negative). Sentiment is determined by applying machine learning models on texts of social media posts.

In this post we are focusing on Ripple which had a big spike in social media mentions a few days ago, see our tweet and chart from that time:

The ripple made a rally after that initial spike from 0.31 USD to 0.64 USD for a return of more than 100%. Real-time social media analytics tools are available as part of our advanced subscription, you can find more information at:

https://www.bittsanalytics.com/subscribe.php

For other recent examples of using real-time analytics read our recent blog posts:

Nano up more than 50% since surge in social media mentions on 11th September

RChain up more than 50% since surge in social media mentions on 9th September

Fun up more than 30% since big jump in social media mentions on 12th September

Fun up more than 30% since big jump in social media mentions on 12th September

BittsAnalytics offers its users real-time social media analytics, in this post we will look on application of our tools to FunFair. It surged in tweets mentions on 12th September (all times are UTC):

 

FunFair’s price has jumped by more than 30% since the surge of social media mentions confirmation powerful analytics value of having real-time social media analytics at your fingertips.

If you want to have real-time analytics always available to you, subscribe to our Advanced subscription at

https://www.bittsanalytics.com/subscribe.php

 

Nano up more than 50% since surge in social media mentions on 11th September

BittsAnalytics recently introduced real-time social media analytics with numerous excellent results so far. Another recent example is Nano which surged in tweets mentions in the morning of 11th September (all times are UTC):

 

Nano’s price has jumped by more than 50% since the surge of social media mentions indicating added value of having real-time social media analytics at your fingertips.

Real-time social media analytics is available as part of our Advanced subscription at

https://www.bittsanalytics.com/subscribe.php

 

RChain up more than 50% since surge in social media mentions on 9th September

BittsAnalytics recently introduced real-time social media analytics with numerous excellent results so far. Latest example is RChain which surged in tweets mentions in the morning of 9th September (all times are UTC):

Its price has jumped more than 50% since the surge in social media mentions confirming the added value of having real-time social media analytics at your fingertips.

Real-time social media analytics is available as part of our Advanced subscription at

https://www.bittsanalytics.com/subscribe.php

 

Introducing real-time social media analytics for cryptocurrencies

Next week we will be introducing a new feature, real-time version of our social media analytics tools (our subscriptions currently offer social media analytics data aggregated only on daily basis). Before going to a an example of analyzing real-time data on the case of today’s Bitcoin jump let us start with a quick look at example screenshot of the dashboard:

As the next step we will look at the bitcoin development today, because it was interesting both in terms of social media data and price. If we closely inspect the above chart we see a big hourly surge in tweets mentions of Bitcoin at 16:00 UTC time (this value is the sum of all Bitcoin tweets mentions between 15:00 and 16:00 UTC time):

The change with respect to the same value a day ago but in same hour slot is +110%. The value of this jump with respect to historical population has a Z score of around 3. The increase is thus historically around 3 standard deviations from the mean, making it a significant signal. Note also from the second chart that we got a sentiment reversal to the positive in this time period, which is a supporting bullish sign for the signal:

(Sentiment is determined with machine learning from the texts of tweets about Bitcoin). The robust surges today in price and social media space look like a good sign (weekend day was probably also a factor in terms of resonance).

If you are interested in our upcoming real-time analytics tools send us an email before 7th September to receive an early bird coupon which allows you to get the subscription at 30% lower price when we launch the service. Or you can subscribe to one of our powerful analytics tools already today at https://www.bittsanalytics.com/subscribe.php and you will get the 30% reduction automatically as an existing subscriber.