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General reminder: This is one of three types of sentiment analysis I do. The daily analysis will likely only benefit short term traders. The weekly analysis I do is best suited for swing traders. And the monthly analysis is my more long-term offering.
First things first, I'm changing things up a bit.
I redesigned the main analysis chart above. I've dropped volume (still tracking it), because it hasn't been consistently showing me anything interesting. Instead I'm focusing more on showing sentiment more clearly. I've added a neutral/no trade zone in yellow (-5 to +5) and a color gradient to more clearly show showing bullish or bearish sentiment over time.
I did this because I saw something interesting today. While most of the influencers I track expected $BTC to drop, as it did today, they edged slightly but not convincingly bullish last night as the uptrend continued through a third day. It reminded me of a bull trap in trading, where folks get tricked into thinking the market may continue running. So I added the color gradient to show how "bullish" or "bearish" the market sentiment is.
Onto today! My stable of 30 influencers and traders understandably went bearish on the majors today but this notably didn't really affect the Alt market sentiment much. Here's the breakdown on the majors:
| Coin | Positive | Neutral | Negative | Total Mentions | Power |
|---|---|---|---|---|---|
| BTC | 1 | 3 | 14 | 18 | -13 |
| ETH | 1 | 0 | 1 | 2 | 0 |
| LTC | 1 | 1 | 1 | 3 | 0 |
| BCH | 0 | 0 | 0 | 0 | 0 |
The Alts
No negative alts today with more than two mentions! That should give you a sense of how people are feeling about the Alt market this week. Here's the top performers:
Everything
As always, here's every coin I tracked today:
| Coin | Positive | Neutral | Negative | Total Mentions | Power |
|---|---|---|---|---|---|
| ADA | 2 | 0 | 0 | 2 | 2 |
| BCH | 0 | 0 | 0 | 0 | 0 |
| BIS | 1 | 0 | 0 | 1 | 1 |
| BNB | 2 | 0 | 0 | 2 | 2 |
| BTC | 1 | 3 | 14 | 18 | -13 |
| CMT | 1 | 0 | 0 | 1 | 1 |
| DCR | 1 | 0 | 0 | 1 | 1 |
| DOGE | 0 | 0 | 1 | 1 | -1 |
| DRGN | 1 | 0 | 0 | 1 | 1 |
| ESP | 1 | 0 | 0 | 1 | 1 |
| ETH | 1 | 0 | 1 | 2 | 0 |
| HKN | 0 | 0 | 0 | 0 | 0 |
| HTML | 0 | 1 | 0 | 1 | 0 |
| HXX | 0 | 0 | 1 | 1 | -1 |
| ICX | 2 | 0 | 0 | 2 | 2 |
| IOST | 2 | 0 | 0 | 2 | 2 |
| ITC | 1 | 0 | 0 | 1 | 1 |
| KNC | 1 | 0 | 0 | 1 | 1 |
| LBC | 1 | 0 | 0 | 1 | 1 |
| LTC | 1 | 1 | 1 | 3 | 0 |
| LUN | 1 | 0 | 0 | 1 | 1 |
| LUX | 1 | 0 | 0 | 1 | 1 |
| MANA | 1 | 0 | 0 | 1 | 1 |
| NCASH | 1 | 0 | 0 | 1 | 1 |
| NEO | 2 | 0 | 0 | 2 | 2 |
| OCN | 1 | 0 | 0 | 1 | 1 |
| ONT | 0 | 1 | 0 | 1 | 0 |
| OST | 2 | 0 | 0 | 2 | 2 |
| PART | 1 | 1 | 0 | 2 | 1 |
| PIVX | 1 | 0 | 0 | 1 | 1 |
| PLU | 0 | 1 | 0 | 1 | 0 |
| POA | 0 | 0 | 1 | 1 | -1 |
| SPF | 1 | 0 | 0 | 1 | 1 |
| STORM | 1 | 0 | 0 | 1 | 1 |
| TRX | 3 | 0 | 0 | 3 | 3 |
| VEE | 0 | 1 | 0 | 1 | 0 |
| VEN | 3 | 0 | 0 | 3 | 3 |
| XVG | 7 | 1 | 1 | 9 | 6 |
The Influencers
Who am I?
I'm an investigative data journalist during the day, and I've been looking for a way to cut through the noise and get a true sense of what some of the biggest crypto influencers are pushing toward and pulling away from.
Using a pseudonym here because I can't post about this shit on my verified accounts. I've become mildly obsessed with crypto and its constant stream of data and needed an outlet. So here I am.
What is this?
Each week, I scrape the Twitter accounts of some of the crypto world's favorite influencers, traders and TA folk. I run a basic sentiment analysis to see which coins they are mentioning positively, in a neutral way and which they are mentioning in a negative light.
I calculate "power" simply by subtracting negative mentions from positive ones to give an aggregate score. The higher the score, the better, the lower the worse. For the daily rankings, I also create aggregate scores for the majors and the Alt markets. The Alts get a 10 point deduction any time the majors go below zero, since overall the Alt-market has a tough time staying above water when BTC is in a spiral.
This isn't financial advice, just my own way of trying to make sense of what's out there. And as with most things, the more data I collect, hopefully, the more interesting it'll be. This is a work in progress. Please leave suggestions on how to make it better. I imagine if I keep up with it, I'll be able to expand a bunch of the analysis, but I wanted to start somewhere.
The alts had been hammered so badly and any huge downdraft may not materialize.
It's starting to look that way. The impact of a BTC drop seems to be less and less.