Love and Hate in the cryptoworld

For a human being it is characteristic to endow even inanimate objects with certain features of animate and to feel different emotions to them. And this rule could be applied to the cryptocurrencies.

If you want to determine the mood of the people, you could conduct a survey, but it is better to use the up-to-mark methods. For instance, there is Watson’s Reports bot among the vast amount of the bots in Twitter. And it is engaged in social analysis. Every hour it publishes information about cryptocurrencies’ posts and analyses prevailing sentiments about them in order to reveal positive and negative statements.







Hate and Love hit parade

As it was expected, the leader in terms of the number of references is Bitcoin (mentioned more than 3 000 times). Behind him, the top three Waves (1 491 times), Ethereum (1 407 times) and Ripple (1 030 times). And after that: Litecoin, NEO, Verge, Tron, Stellar, and Bitcoin Cash.

Bitcoin is always on top of the list. The rest of the Top Ten is rather volatile. It all depends on what crypto currency is mentioned in the news. However, if someone mentions cryptocurrencies in his posts, this does not mean that he buys or sells them. By the way some of the most popular cryptocurrencies are the most hated ones at the same time.

In December, the research “Market Sentiment Helps Explain the Price of Bitcoin” by Yoshiharu Sato was published.

The author of the research assures us that, using Metcalf’s law, we can accurately explain the changes in the price of bitcoins, tracking the positive sentiments of market participants in social networks. It is assumed that the price of BTC is mainly the result of a balance of supply and demand of buyers and sellers, which is largely influenced by market sentiment. It is likely that the mood of the market is also strongly influenced by the price itself, forming a circular inverse relationship. As a result of the analysis of trends, one can identify the most beloved and the most hated cryptocurrencies.

According to the Watson’s Report bot Bitcoin has the largest number of posts of the inegative sense (11,5%). And it is expected, because of its dominating. Haters will hate it till the end. The most positive mentioned coins: SIA (20,6%), ZClassic (19,5%) and DigiByte (18,7%).

Ubiq and Stellar close the top five.

In terms of the negative, after BTC there are ETH (6.1%), Lightcoin (5.3%), Bitcoin Cash (4.9%) and Tenx (4.6%). Since the bot updates its analysis every hour, these trends are quite dynamic, with a lot of variations and a constant change of places.

There are many bots of all types

In fact, social networks are public databases. Twitter is gigabytes of every second-changing information. A person is not able to work with such volumes manually. Therefore, programmers develop Twitter-bots for various tasks, for example, analyzing the profit of investors, automatic purchase and sale for traders. Other bots signal when the volume of the coin for purchases suddenly increases, or in case of Telegram-bot Crypler, when a new crypto currency is added to the stock exchange. As AI (artificial intelligence) develops and bots improve, traders will increasingly use signals from them. So far, as the portal writes, the best traders still rely on a good share of intuition and their sixth sense.


The sixth sense VS trader bot
In the personal blog of Chris Dunn, a crypto-trader with five years of experience, there are 50 tips for beginners on cryptomarket. Who are interested in, can read it all, but I save your valuable time and highlight the main:

• People with the best mindset for investing typically have a career in high-risk situations like firefighters, pilots, police.
• You WILL make every mistake in the book. Don’t beat yourself up when you make mistakes, just learn and try not to make the same mistake twice.
• Don’t be a blind bull. ALL markets are cyclical. Don’t be afraid of pullbacks or market crashes – that’s where you can make the most money.                                    • Beware of get-rich-quick gurus hopping on the crypto bandwagon over the past year.
• Don’t trade with money you need for living expenses. It’s called “risk capital” for a reason.
• The best way to profit in any market is to find something you think has big potential early (before the general public catches on), and invest assuming you’re going to lose 100% of your capital. It’s the “angel investor” approach.
• All financial networking marketing projects are ponzi schemes, period.
• Don’t set daily profit target goals – set long-term performance goals.
• Don’t invest in a coin unless you understand it inside out
• You can make money trading the momentum and hype in shitcoins, just don’t invest long-term.
• The hardest thing to do in trading is… NOTHING. This can also be the most profitable thing to do.
• Just because a market is in a “bubble” doesn’t mean it’s going to die. Bitcoin has been through over half a dozen big bubbles and increased in price after each one.
• Don’t assume just because you’ve made a lot of money in crypto that you can just as easily make money in other financial markets. 95%+ of stock market traders LOSE money. The game is rigged. Stick to what you know works for you.
• Don’t trust anyone else to trade for you. Manage your own high-risk investments (like crypto trading) or don’t participate at all.

Certainly, for any person it is characteristic to try to put responsibility for their future actions to other people’s shoulders, and therefore the fortune-telling industry, astrologers and so on. Cryptomarket is not an exception …

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