Ethereum sentiment: Where to get social data on ETH?
Where to get market sentiment information
Reddit has been the place for short term sentiment for quite some time now. It will be good place for you if you are a trader looking to get BTC or fiat profit out of altcoin markets but are not emotionally invested into an altcoin.
The trick is to see beyond PR/delusion. Quite a good way to do that is to avoid subreddits that focus on one altcoin in particular.
It works because the times are gone that ETH and other coins were strictly banned from being mentioned in bitcoin threads. On the other hand, bitcoiners don’t buy into the new paradigm bullshit all that much, so circlejerking and downright pump shill will still not survive. Comments on TA, price, fundamentals and similar will.
I think ethereum is a pretty cool experiment. I am pissed I didn’t at least put some money into the crowd sale since it is up 46x now. Could have been retired…. But, there are big problems investing in it now. The blockchain grows insanely quickly even compared to bitcoin. They don’t presently have any solution. The supply of eth is not capped like bitcoin… It’s hard to see it growing in price higher than bitcoin. The utility is being explored, but these endeavors could crash and burn in a year or two. The price could crash already now as people who were smarter than I decide to take their goddam fucking 46x gain and skedaddle. via r/bitcoinmarkets
Crypto blogs, but…
Keep in mind that blogging is a form of PR these days.
If you don’t have enough information to make your own decisions, go and read different opinions.
Coinbase blog is now very pro-ETH saying that basically, BTC is a legacy technology now and its fundamentals are out of the loop.
- “…also this screams like coinbase screaming for help.” **
- “Indeed Coinbase is screaming for help, after watching Bitcoin calcify into a Legacy technology. It’s a good thing that Ethereum is here to provide what Bitcoin cannot, and a good thing that Ehrsam is wise enough to see it’s time to move on.” **
It has been pretty much the sentiment lately that bitcoin won’t be the next USD, it will be a good store of value though and great for gambling or other online activities. For decentralized apps though, there will be utility for altcoins. At the same time that doesn’t mean to jump all in into some of them.
It means there will be activity, and whatever might cause it, there will be profit to be taken. Naivity, morals and similar BS aside, you can still earn on pump and dump if you are careful.
Almost always bad sentiment: Trollboxes
Trollboxes are probably the worst place to come for market insight.
If you want to read them, TradingView chat is about the least bad place to do so. Please forget about Poloniex, Yobit and other exchange trollboxes. Mods are doing their best but the flow in the trollbox is too fast and you won’t get away without seeing posts like “omg why vcash so cheap now” and the like.
You will still get tons of really bad technical analysis on TV, but at least the blatant spam is not as massive as on exchanges.
Time and again someone will show up who also trades markets that you maybe weren’t thinking about at all and you might actually learn something.
Don’t count on it though.
Dictionary FOMO = fear of missing out BTFD = buy the fucking dip