Bitcoin, after hitting a one-month low of $7300 on the 18th of March has come back to life and breached $9000 again momentarily. Daily charters and signals across most forums are green and indicating a possible break towards $10K in the next couple of days.
People from the crypto community have noticed that from the moment Bitcoin hit $11,600 on the 5th of March there has been multiple analysis which mentions the possibility of a bull run towards $14K. Analysts also say over analyzing or daily analysis of the crypto markets makes the evaluation more emotional than objective and hence a lot of false positive emotional analysis indicating the markets are ready for a bull run.
The Sentiment Analysis segment is just a consolidation of the current market sentiments taken from investors, miners, influencers, certain forum members and skeptics related to specific tokens that are covered today or yesterday.
Ripple is currently trading at $0.71 to a token with a market cap of $27 billion showing a dismal increase of 1.87% in the past 24 hours. After Ripple got listed on Bitbay there has been an increased support for the token at multiple forums.
Carlton James, a newbie to Wall Street says,
“There is an increased buzz on the street for XRP especially since Ripple’s team is in the news almost always. They have partnered with dozens of god knows what and the real-world use cases are pretty evident. Word on the street is that XRP is currently undervalued and might go up by very soon”
David Hoan, a Ripple investor who replied to Carlton’s comment says,
“Unfortunately I don’t see that happening without a rally in Bitcoin. Only once in Jan when Bitcoin started dropping XRP went up. Maybe it happens, but it is highly unlikely.”
John_Buh a forum member at XRPchat says,
“A lot of investors were burned after the runup lost steam and the crypto market tanked. I’m not sure where the FOMO would come from. Of course memories are short when good ‘ol fashioned greed kicks in. I think the trigger will be a major partner announcement – a true name brand. Otherwise we are tied firmly to Bitcoin.”
In conclusion, a lot of Ripple respondents feel that there is a big wave of bull run coming and it will be huge. An emphatic 67% believe that Ripple could possibly top the $3 mark within this year itself and set new records. A good 20% feel that Ripple is not doing anything crazy in the next two days or the coming week and would be highly dependant on BTC prices. 13% felt that Ripple would be one token that could tank to even lower this week as people would shift attention to other tokens.
Cardano at press time was trading at $0.22 to a token with a market cap of $5.7 billion showing an impressive 16% increase in the past 24 hours and is the highest gainer in the Top 10 coins according to market cap.
Milton Chow, a cryptocurrency fanatic from Tallinn says,
“The undervalued token right now, look at how just a hint of green in Bitcoin has propelled ADA’s price. We could see it touching 0.50 soon, that I believe is the honest value”
Kishore Malhotra, an altcoin investor from Delhi says,
“Past month has been a bloodbath. I’ll be adding more ADA, don’t mind DCAing on the way down. HODLing in red is my kind of investment. I personally believe in this project and everyone would be kicking themselves for not investing. The next 2 days seem like more growth, possibly 30% more.”
In conclusion, out of all the respondents, 83% feel that Cardano is possibly poised to gain another 10-15% more in the next day. The other 13% feel they should go against the trend as markets are emotional and right now taking profits is the better game.
Stellar Lumens [XLM]:
Stellar Lumens at press time was trading at $0.26 to a token with a market cap of $4.9 billion showing a gain of 8% in the past 24 hours.
Peter Malloy, an XLM believer says,
“Hold on guys, don’t let the market fool you. IBM has smartly chosen XLM over XRP and there are many more coming. We should seem upward action soon”
Esmail Farook, a Bitcoin miner from Auckland says,
“The recent partnerships will push the threshold of what the current network can do and that is a strong indicator to jump in. I have read it in multiple places and I now feel it strongly than ever before, XLM could be the bull run leader when the markets sets off”
In conclusion, 58% of the respondents felt that Stellar could be the next Cardano in the next 24 hours while the rest believed that although later in the year stellar could potentially break out for the next 24 hours nothing major would happen.
IOTA at press time was trading at $1.42 to a token with a market cap of $3.9 billion. Although the percentage increase in the past 24 hours was only 3%, the increase over the past week has been impressive at 15% and it is the highest gain for any token (in the past week) among the Top 10 tokens.
Joseph Lorenzo an advisor at a Hedge Fund Managing company says,
“IOTA has been quiet for a while, no one is talking about it, if you look closely you’ll know that IOTA has gained more than any other currency out there. People have criticised the IOTA team for the past 4 months, rest assured, I believe in them. Wait for it”
Patrick Muller, a security analyst at a Berlin company says,
“Dominik Schiener introduced IOTA to an audience of about 2 Million Germans yesterday, I think that will have an impact. It’s like a steam engine, you have to wait for momentum and once its there no one will stop it”
In conclusion, IOTA had more believers that one would anticipate. Although we could interview only a small data set of 7 people, 5 believed that IOTA is likely to break through within the next two months but do not expect a crazy price action anytime soon. 2 people believe that IOTA is not a token that anyone is interested in and that it could possibly break to a lower price point in the next week before going up again.