Market Sentiment: Bitcoin Back to Pre-November Trends

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On Monday, the sentiment surrounding the shirt 10 cryptocurrencies by market capitalization is significantly more positive than a week ago, according to Predicoin, that a crypto market sentiment analysis service. Moreover, Bitcoin Sentscore appears to return to the array it had earlier mid-November crash, according to Pierre-Alexandre Picard, co-founder and CMO of Predicoin.

Bitcoin SentScore since August 2019:

Market Sentiment: Bitcoin Back to Pre-November Trends 102Source: Predicoin

Meanwhile, the typical market sentiment score one of the top ten now is 5. 65, again higher than last week (5. 43) and marking still another improvement on a week-by-week basis. For Bitcoin, it’s fourth Monday in a row with the highest score (6 ) .7) from the shirt 10. Bitcoin Cash (5.7) and Stellar (5.5) made it on the winning list this time, joining the same winners as last week: Bitcoin (6 ) .7), Litecoin and EOS (6 ) .2 ), Ethereum (6 ) .1), and Binance Coin (5.9).

Sentiment change among the shirt 10 coins*:
Interpreting the SentScore’s scale:
– 0 to two ,5: quite negative
– two to 4,5: marginally negative zone
– 4,5 to 5,5: Neutral zone
– 5,5 to 7,5: marginally positive zone
– 7,5 to 10: quite positive

Market Sentiment: Bitcoin Back to Pre-November Trends 103Source: Predicoin, UTC 12:14 AM

This is Stellar’s first time on the winning list since we began these weekly upgrades in February 2019, and its second time preceding the negative variety. Part of the buzz, which reveals the intensity of social interest to get a coin, approximately Stellar stems from the fact that the congregation of obligations, FinTech and financial services industry called the Money 20/20 convention in Asia is expected to beginning tomorrowMarch 19th, and will comprise Stellar’s co-founder Jed McCaleb as among the speakers, Picard suggested. Also, it is anticipated that Stellar will make a joint statement with information technology giant IBM, as Jesse Lund, IBM’s Head of Blockchain and Digital Currencies, will join McCaleb on point. (Updated: On Monday, IBM declared a payments system based on blockchain and the Stellar protocol.)

Meanwhile, despite an increase, XRP still has the lowest score of 4.5, which marks the line between the negative and neutral zones. The last time this coin has entered impartial territory was February 25th, as it handled to receive a score of 4.7. The impartial list retains Tether (4.6 ) ) and TRON (5.1), in which the former fell contrasted to a week, while the latter climbed.

Tether’s fall can, at least partially, be attributed to the news which its USD 2 billion market supply is currently backed by not just US dollars, but other resources, too, according to Picard.

Bitcoin Cash and XRP are both winners in the weekly shift class with 8.7 percent improvement in comparison to past week. Bitcoin Cash discovered its strength in news, which acquired a rating of 7.8, while its weakest place are principles with 3.1. XRP’s score explains its whole score and it’s so low: information are again in their side with 6.4, however the technical side just scored two .3.

The biggest loser is Binance Coin with a fall of 1.8 percent, followed by Ethereum with -1.6 percent and Bitcoin with -1.5 percent. However, most of them still remain on the winning list. Binance Coin’s power is technical, with 7.5, while its weakness is basic – 3.7. Ethereum’s potency is also news with 6.4, however, weakness is also technical with 3.5. Bitcoin’s principles are soaring in 8.6, while the social facet – in 4.5 – renders something to be desired.
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Methodology:

Predicoin steps the market sentiment by calculating the SentScore, which aggregates the sentiment in news, social media, technical analysis, viral tendencies, and coin principles depending upon their proprietary algorithms.
As their website explains, “Predicoin aggregates trending news articles and viral social media posts into an all-in-one data platform, where you can also analyze content sentiment,” after adding, “Predicoin combines the 2 sentiment indicators from news and social media with 3 additional verticals for technical analysis, coin fundamentals, and buzz, resulting in the SentScore which reports a general outlook for each coin.” For today, they are rating 30 cryptocurrencies.

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