Today’s Crypto Sentiment

As Bitcoin continues to consolidate around the $60k mark — we might see a movement into the mid 60’s, or a retracement back towards mid 50’s.

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 the reddit.com/r/cryptocurrency 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” category. For those unfamiliar with Reddit, posts in “Hot” are typically higher quality as they have been received positively by the community.

The bot is Open Source and can even place trades on sentiment signals, so feel free to check that out on my GitHub.

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. If this article gets 200 claps, I’ll probably start doing quick daily sentiment updates, so make sure to clap and follow me if you would like to see that! Now go touch grass.

Finally, if you’re into algorithmic trading and trading bot, go check out Algotrading platform Aesir, it’s a brand new platform that I built alongside a small team of developers and we’re always looking for feedback to improve.