This week in Crypto Sentiments - Are we preparing for a Bull Run?

created on: 2021-12-22

This week, we analyzed 450 news articles, 24285 upvoted comments on Reddit, Google Trends, Twitter, Binance and Bitfinex. Here are our findings.

What is Sentiment?

When press or users on the web talk about something, it could be good news or bad news or if they found it good, interesting etc. They could predict good things or bad things will happen to it. We measure sentiment on a scale of -100% (really bad news/review), 0 (neutral news or opinions) and 100% (extremely good news or opinion). Sentiments drive the crypto market.

General Crypto Trends

• Fear and Greed Index has reached 74 (Greed) from 84. The market could be preparing another bullrun.
• Crypto Market cap recently hit an all time high. Crypto adoption is going at a very fast pace.
• Interest on Google for Crypto is at an all time high. It's a strong bullish sign.

Most talked about Cryptocurrencies (Reddit)

Hover over the dots to learn move. Higher dots have more positive sentiments. Bigger dots got more mentions on social media. Dots on the left are traded more.

Cryptocurrencies most popular on News

Bigger dots had more news articles written about them. A higher dot had more positive news.

Conclusion

Crypto sentiments have been weakly positive around 20% amid the fears of a bearish phase after hitting all time high. Though Shiba Inu (SHIB) had weak fundamentals, it was hyped up quite a lot over the last 2-3 week on Reddit. The news article sentiment is much more cautious at about 6%.

NFTs were hyped up by news quite a bit 2 weeks ago thanks to coinbase NFT marketplace launch, Steam banning blockchain games, Epic allowing them. The news has died down slightly and stands at 50% of what it was.

The general crypto trend indicators seem to strongly suggest that the market is preparing a bull run.

Koinsentiment aggregates news and social media talk around crypto and analyzes the sentiment of each digital asset. Try our Dashboard for real-time sentiment analysis and please support us on Producthunt.

Detailed Sentiment Analysis Results