The Fab 14: The cryptocurrencies with the highest sentiment this week

Last week we were talking about how Bitcoin was approaching a big decision. That decision, for the moment, appears to be bullish.

While the 154 crypto influencers and traders I follow for my sentiment analysis were split heading into last week, today they’re more bullish than they’ve been in months.

Alts remain bullish, but have cooled off after a nice couple of weeks. Let’s look at the charts.

 $BTC has outperformed the expectations of the folks I follow who remained bearish last week, and saw its sentiment peak today with the price coasting above $7,300 USD and a green weekly close for the third straight week.

That doesn’t guarantees it’ll be all roses. Several have questioned how long this run could last after more than two weeks of bullish action. Daily indicators suggest a cooling off period is necessary before long.

Still, it’s nice to see some sustained positive sentiment. It’s just not clear how long it will last.

The Top Alts

These coins/tokens had the highest power rating in my analysis this week. The power rating is a weighted calculation taking into account sentiment, volume and the number of unique users who mentioned a coin. Generally, I eliminate any coins mentioned by less than 3 individual people as I don’t feel it would be representative of a trend.

You can always find my methodology at the bottom of my posts or pinned to the top of my Twitter page, where you can also find a legend for my charts.

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The Data

As always, here’s all the data I collected this week.

Methodology

Each week, I scrape the Twitter accounts of some of the crypto world’s favorite influencers, traders and TA folk. I run a sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

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.

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