News sentiment analysis of Crypto market, May 02 – May 09, 2018
The dashboard allows a quick view on Crypto market in meaner of news sentiment score and returns for the assets within the market. In this example, we analyze the news sentiment of the Crypto market, market cap above 1.7B, May 02 – May 09, 2018
The crypto market looks bullish as the majority of assets with a market cap above 1.7B got 0.57 news sentiment score which indicates a bullish market (news sentiment above 0.50 consider bullish as more meaningful bullish classified news was published during the period. The scale for the news sentiment score is between 0-1). The return for these assets was 5.56% for the period.
The leaders were Bitcoin Cash (BCH) with 0.75 news sentiment score and 10.93% return, followed by Ethereum (ETH) with 0.75 news sentiment score and 9.48% return. Litecoin (LTC) and VeChain (VEN) are also strong with 0.72, 0.75 news sentiment score respectively.
On the bearish side, we can find Cardano (ADA) with 0.47 news sentiment score and -10.98% return for the period. However, today was announced that Cardano ADA token gets listed on Korean payment platform Metaps Plus, therefore the latest news sentiment score for the assets is 0.8.
Ripple (XRP) was found also on the bearish side with 0.30 news sentiment score and -5.75% return. Qtum (QTUM) got 0.31 news sentiment score and -8.11% return, these result place Qtum on the bearish side of the market
Finally, Bitcoin (BTC) got solid performance with 0.54 news sentiment score and 0.9% return, however, looking at the latest news sentiment score of Bitcoin (0.78) which is higher than the weekly news sentiment score, can provide the confidence of the bullish trend.
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