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NOT BUYING The Jump In Sentiment for Ethereum (ETH)

May 23, 2019

Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions
Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions

 

  • While the news volume and google searches for Ethereum (ETH) have recently picked up, we don’t see the same value buy opportunity exhibited in Bitcoin (BTC)

    • The move in Bitcoin (BTC) from a sub $4k to now around the $7k to $8k range probably helped elevate overall sentiment for the cryptocurrency market

  • Obviously, the positive vibes coming out of NY Blockchain Week have reverberated across most of the major cryptos as can been seen in the uptick in overall article sentiment for Ethereum (ETH)

  • Again, to reiterate, while the number of articles increased as well as the positive sentiment, the NVT for Ethereum (ETH) currently doesn’t warrant a BUY here

    • Currently, Ethereum (ETH) has a “DON’T OWN” signal and we see no reason to challenge our Machine Learning Algos

  • It would be worth tracking sentiment for Ethereum (ETH) going forward since, admittedly, the recent jump in sentiment is a nearly 2 standard deviations

 

Ethereum (ETH) Volume - Last 30 Days

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Average Ethereum (ETH) Article Sentiment - Last 30 Days

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Ethereum (ETH) Article Count - Last 30 Days

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We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

Overall Ethereum (ETH) Social Sentiment - Last 30 Days

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Ethereum (ETH) Google Trends - Last 30 Days

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Ethereum (ETH) Network Value to Transaction Ratio - 10-Day EWMA - Last 30 Days

 

ethereum-nvt-data

 

 

 

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Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS