There remains a lot of electricity surrounding the alt market this week, but it seems like it’s buoyed by a sort of nervous energy as bullish momentum surrounding Bitcoin falters.
So let’s start there this week.
The relative stability surrounding Bitcoin has disappeared in recent days. After tickling $10,000 USD last week, sentiment around the crypto king has faltered, dropping 43 percent in just four days.
The erratic changes come after a month of relative stability, which buoyed the Alt markets. The big shifts in sentiment are something to consider, because much of the market still moves with Bitcoin. When it broke down last night, for example, many altcoins lost all of their daily gains.
All that said, the 4o influencers and traders I follow remain bullish on several alt-coins.
If you’re new here, I scrape the social media of the aforementioned cohort of prominent crypto personalities and track when they mention individual coins. I mark down whether they mention them in a positive, neutral or negative light and gather a net score for each coin (+1 for positive, -1 for negative).
You can always find the full list of coins I’ve analyzed at the end of my posts.
Below are charts showing the 10 hottest coins in the last two weeks, and how they got there.
9. (tie) $WTC — +12
9. (tie) $VEN — +12
8. $WAVES — +13
5. (tie) $ZIL — +14
5. (tie) $SENT — +14
5. (tie) $KMD — +14
4. $ADA — +16
3. $ZRX — +17
2. $OCN — +29
1. $ICX — +34
As always, here is all of the data I collected for this piece.