 ▲ Bitcoin (BTC), Ethereum (ETH) |
Bitcoin (BTC) recorded a decline in the second quarter of this year. However, it recorded a rally trend overnight, exceeding $63,000. Ethereum (ETH) is also attempting to break through $3,500 with a concurrent rise last night. Accordingly, some are looking forward to whether a rally will begin in July, breaking away from June's poor performance.
What do the public think about Bitcoin and Ethereum? Let’s check it out with the big data analysis platform Some Trend.
 ▲ Source: Some Trend |
Bitcoin vs Ethereum, what is the trend in mention volume?
During the week from June 24th to June 30th, Bitcoin was mentioned 843 times and Ethereum was mentioned 317 times.
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
 ▲ Source: Some Trend |
Bitcoin vs Ethereum, what are the images and key emotional words?
Bitcoin's image was confirmed to be negative, with 41% positive, 49% negative, and 10% neutral. Among the major emotional words, positive expressions include 'strong', 'recover', 'price fall', 'expectation', and 'success'. Negative expressions include 'concern', 'plunge', 'sell', 'collapse', 'buy', 'fear', 'pushed', and 'fall'. Neutral expressions include ‘surge’ and ‘pressure.’
Ethereum's image was confirmed to be positive, with 58% positive, 32% negative, and 10% neutral. Among the major emotional words, positive expressions include ‘strong’, ‘high level’, ‘expectation’, ‘compensation’, ‘diverse’, ‘positive’, ‘sufficient’, ‘successful’, ‘best’, and ‘approval’. There is ‘receive’. Negative expressions include 'concern', 'plunge', and 'threat', while neutral expressions include 'pressure' and 'surge'.
Major issues related to Bitcoin and Ethereum
Cointelegraph, a cryptocurrency media outlet, reported that Bitcoin recorded a rebound in July.
Analyst Ali Martinez explained that in the past, prices had declined in June, but rose by an average of 7.42% in July. Memecoin analyst Murad noted that Bitcoin's rally of at least 28% in the first few weeks of July has been repeated for the past six consecutive years.
Conversely, some predicted that the German government's sale of Bitcoin and the repayment schedule of the bankrupt virtual asset exchange Mt. Gox would put pressure on selling.
FX Street, a virtual asset media outlet, predicted that if Bitcoin breaks the daily resistance level of $63,956, it will rise 5% and retest the next weekly resistance level of $67,147.
Both the Relative Strength Index (RSI) and the Awesome Oscillator (AO) recorded points lower than the neutral range.
If there is a positive trend across the cryptocurrency market as bull forces pursue a more active upward trend, the weekly resistance line is expected to rise to $71,280.
However, if the low on the daily chart falls after breaking through $58,375, the bearish trend may continue, reaching $56,522, the low on May 1.
Ethereum currently has formed a support line at $3,288, which corresponds to the 61.8% Fibonacci retracement line from the low of $2,862 recorded on May 14 to the high of $3,977 recorded on May 27. If Ethereum maintains the $3,288 support level, Ethereum trading price can target $3,717, the high recorded on June 9.
If it breaks through the $3,717 support level, it is expected to mount an additional rally to reach the previous resistance level of $3,977.
Bitcoin and Ethereum, what are today’s prices?
As of 3:43 p.m. on July 1, the price of Bitcoin according to CoinMarketCap is $63,303.67, up 4.06% from the previous day, and the price of Ethereum is $3,482.46, up 3.48%.
