After a dramatic roller-coaster week, the markets have turned green for now with certain tokens like TRON, ICON and EOS leading the way with an impressive 40% gain over the past week.
There have been rumors about a possible bearish market in the next couple of weeks with the 200-day moving average and the 50-day moving average close to meeting each other.
Many from the community argue that the entire crypto market is already in a downward trend and the convergence of those two indicators doesn’t really mean anything.
In our Sentiment Analysis, we try to cover the current market emotions from the community specifically related to the token including investors, miners, journalists, skeptics and influencers.
Note: The total data set would be limited to the number of interviews our journalists could cover of the particular token that particular day. We try to cover unique demographics for each token to keep the conclusion relevant.
Ripple at press time was trading at $0.64 to a token with a total market cap of $25 billion showing a minor 2.5% growth in the past 24 hours like most tokens in the top 10. Ripple has been in the news recently for the possibility of it hitting the Chinese market with their cross-border payments and the new version upgrade.
Viktor Sokolowski, a cryptocurrency investor from Helsinki says,
“I don’t think any other project has dominated the market more than what Ripple has done. Every other day there is a new partnership and once we see the markets going back to green we should see XRP rise again. With people talking about the death cross, I don’t really know what will happen in the next few days”
Vijay Jain, a Phython developer from Bangalore says,
“Because of the “cheap” nature of this token, there is a lot of exposure for Ripple, I mean a lot of people are invested in Ripple than Bitcoin is what I feel. Unfortunately, the correlation of partnerships and price hasn’t happened. Today’s Tron momentum gives me hope, I know that XRP will be one of those which will zoom into $4-5 very soon”
Kevin Yanger, an altcoin miner from Orlando says,
“We always say this, but if the current news breaking out about Santander is true, this will be epic. They have a revenue 1000x larger than WU. Have to wait and see if this is xcurrent or xrapid. Will definitely see prices pushing up. The next two days will be good.”
In conclusion, an emphatic 72% of the respondents felt that Ripple will be pushing upwards for the next two days, especially with the news about Santander just breaking through. A conservative 28% feel that this Santander news was already published earlier in Feb and nothing really changes till they actually adopt the technology. They felt that prices could still be lingering in the same trend as Bitcoin.
Tron at press time was trading at $0.049 to a token with a market cap of $3.2 billion witnessing a massive 36% gain in the past 24 hours and a 70% gain in the past week. Tron has been in the news for their recent addition of a new techie joining them with the advent of Test Net very soon and Justin Sun tweeting about how today’s rise would just be the start of things to come.
In our previous sentiment analysis segment, the conclusion about Tron revealed that most respondents believed TRX could be the leader in a bull run when the markets turned green.
Patrick Kim, a TRX believer and investor says,
“I have been saying this from before, TRX will hit $1 before September or maybe more. People worried about the supply but people forget about the gradual coin burn that Justin has promised. It could go up a bit more before short-term investors start cashing in”
Dave Reonaldo, a TRX skeptic says,
“I’m one of those ‘critics’ who keep bashing Tron, I would continue to do so till I see any value. People are buying into the hype, there is no value here, only smart investors trying to make some money. I think Tron will tank in the next 24 hours and not go up”
Ganesh Kumar, a Financial Advisor from Mumbai says,
“If the TRON main net is successful (and it will be), it would mean TRON Platform and all the new projects will be created into TRON Platform. There would be a lot of investors in this project. We could potentially see a $1-2 price point within this year especially after the Main net release.”
In conclusion, a good 82% of TRON respondents were bullish about the next 24 hours and possibly until the month end when Test Net becomes live. But the other 18% felt that people were naive and that people were investing in with the hype. They feel that TRX could fall in the next 48 hours.
QTUM at press time was trading at $18.27 to a token with a market cap of $1.6 billion showing an increase of 27% in this past week but not changing much in the past 24 hours. Just four days ago, QTUM had gone beserk with a 55% increase in that particular day.
Jackson Jung, a QTUM believer says,
“QTUM has been silently sitting there with a strong development team making progress in their product. There would be a sudden spurt of interest like we saw the other day and QTUM would easily be in the Top 5 very soon. Just need some media hype.”
Mahesh Dhawan, a developer says,
“The recent Lightning Network DDoS attack which sent 20 nodes down is a sign why decentralization matters and Qtum has 6000 nodes and is slowly climbing. I think QTUM could be one of the top cryptos soon, I’m HODLer, should see some intense price action soon.”
Kevin Lawrence, a Bitcoin fanatic says,
“Another shit coin which is really going nowhere. Most of the coins in the Top 20 will not survive the next 10 years. Even Ethereum after this week’s dump has people gasping for breath. QTUM is one of those less remembered coins which no one will ever talk about. For the short term prices might go up but long-term its a 0 coin”
In conclusion, 75% of the respondents felt that a token like QTUM was undervalued and there could be possible bullish action very soon if the markets continue to be in green. 25% of the respondents felt that QTUM will go up but not right away and might see some bearish action for the next 48 hours.
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