Since Bitcoin is back up to $60k, I decided to run my crypto sentiment analysis bot and see how the market feels today, and determine whether there is any strong correlation between the price movement and the overall community sentiment.
As my basis for measurement, I’m analysing data from this subreddit. There generally tends to be less hype and very little (to no) memecoin shilling, so it’s a fairly clean dataset in that respect.
The bot takes into account post titles and post descriptions from the Hot. The bot is Open Source and can even place trades on sentiment signals, I’ll leave a link to GitHub down below.
Without further ado: here are today’s Sentiment Values, I’ll keep it nice and short.
The sentiment values range between -1 and 1, with -1 being extremely negative and 1 being extremely positive. I’ve also highlighted the cells so defining notable thresholds.
On average, the sentiment seems fairly positive, however altcoins seem to have a more positive sentiment than Bitcoin, which sits at 0.17. This is only slightly positive.
Ethereum is a bit more positive with 0.29 but still relatively reserved.
GitHub Link for those interesting in running it themselves: https://github.com/CyberPunkMetalHead/Cryptocurrency-Sentiment-Bot
submitted by /u/CyberPunkMetalHead
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