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Sentiment analysis: Is Alt season upon us? 10 coins rating the highest this week

In this week’s analysis, Remy Stephens explores ten altcoins defying Bitcoin’s volatility with high sentiment rankings.

Written by Remy Stephens Published on

When Alt Season sir?

Crypto social media is all atwitter at the possibility that the Alt market has finally bottomed out after a gruesome sell off late last week.

It’s something I’ve been watching closely because a) the bear market is getting really old and b) there are a lot of fundamental and technical indicators to suggest we may finally be leveling off.

If only it were so simple. Let’s look at some charts.

Side note: Knowing the interest, I’m going to do things a bit differently this week, and perhaps here on out. The chart below shows a daily average of $BTC sentiment vs. that of the top 10 market cap Alts, taken from the band of nearly 150 crypto influencers and traders I follow for my analysis.  I’m hoping it’ll give a clearer perspective on things. 

So, clearly sentiment has perked up on the Alt market in recent days, but it $BTC remains in a downtrend, which is a bit troubling to me.

Volume on the Alt market since the selloff has been abysmal even accounting for the weekend, and any major move downwards by $BTC would likely bring the Alts down with it.  The influencers I follow seem pretty split on where $BTC goes next, be it for a turnaround or one more move down.

That said, it’s notable that sentiment has spiked on the Alts so dramatically and held its position through the weekend. That hasn’t happened since early July, and even then it was a one-day deal.

This could be great news for long beaten-down Alt hodlers, but trade carefully — were not quite at any kind of confirmation yet.

The Top Alts

Note: Something went awry in my code for the historical charts, so they’re MIA this week. Will have it sorted by next week. 

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.

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. If you’d like a chart for any of these coins with the full data, just @ me on Twitter @FOMOCryptoDojo

 

CoinSentiment (of 100)VolumeInfluencersPower Rating
AAPL609774.75
ADA41361469
AURA426461.75
BAT616471.25
BCH19131055.5
BIS255452.5
BNB2019956.25
BTC406399370
STRAT847276.75
XZC7819276
BWK5213469.5
CVC544465.25
DOGE8212585.5
DRGN204346.25
MTL823374.5
OMG823374.5
DTB165346
EOS26411562
ETC51822974.5
ETH41893870
ETP95342.5
HMNY4013865.5
NAS972271.25
PIVX6721271.25
WYS804271.25
HOT795580.75
CATO843270.5
GAME843270.5
ICX13201354
DEV6522270.25
KEY95342.5
KLKS9410489.75
KMD616673
LTC27311161.5
LINK823269.5
NANO204346.25
NEO22191157.75
HKN803268.5
ZER803268.5
OCN628675
PHR6817579.25
PIRL696475.25
POLY48211171.5
XSN538261.75
RVN124342.25
SC704473.25
SCRL6810476.75
SHA913160
NVIV806159.75
CRNC503358.5
SENT503358.5
WAVES503358.5
ARO992158.25
BND702257.75
DNR702257.75
TRX48201171
VEN224347.25
TRBO843156.5
VET6528679.25
WAN4914970.5
POD652255.25
COLX6128154.5
XTZ803154.5
MEDX912154.25
XBT84442.25
XG628574.5
POA628152.25
NIO646151.75
LINDA842150.75
REQ842150.75
XP616150.25
XPTX1001150
AKA542249.75
GALA542249.75
GNT542249.75
POE542249.75
STORM822149.75
STR542249.75
BITG981149
LBXP981149
MINT981149
VNT693149
TOMO971148.5
STONE538147.75
ACR951147.5
DXT951147.5
EEM951147.5
THR951147.5
TKS951147.5
VIBE951147.5
XHV164344.25
XLM155447.5
TRC643146.5
XLR5412470.25
XRP491103274
XVG7011980.5
ETHOS921146
MUE921146
MWAT921146
NIHL921146
NYE921146
DYN526145.75
EXUS526145.75
GIN246245.75
BCC452245.25
MAN452245.25
CRW197244.25
ZCL22201057.75
XCP213344
ABYSS702143.75
GARD702143.75
POWR702143.75
TYGA702143.75
RUPX447142.75
ZEC514361.75
ZIL654368.75
ZPT7910380.25
ZRX26231160.75
BTC”841142
CRAVE841142
LIFE841142
LMAO841142
LUPE841142
MFT273242
MORE841142
NEXO273242
SAFEX273242
SEN841142
START841142
TRI841142
TSC841142
XMN841142
MANO652141.25
NULS652141.25
VE652141.25
XLQ445141
GBX454139.75
VIA213239
PZDC414137.75
VTHO414137.75
MSP83337.5
TUBE124237.25
MAC272236.25
ALQO542135.75
SEC542135.75
BTCP423135.5
LUX423135.5
AE701135
ARK701135
AUD701135
AWK701135
CPC701135
ECC701135
IOTA701135
LND701135
SLV701135
SNM701135
SPX701135
VXD701135
WMT701135
TEL222233.75
UBQ222233.75
BLOCK257133.25
BNT452131.25
DCR452131.25
MONK452131.25
CDM274130.75
T162230.75
XBY162230.75
XMR162230.75
DBIX43230.5
XDO254129.75
BTG132229.25
MANA132229.25
DJIA92227.25
HT541127
JEW541127
LUPX541127
QASH541127
REBL541127
SYS541127
ZEN541127
DASH72226.25
BURST62225.75
LBA62225.75
DP42224.75
MGO42224.75
QKC42224.75
ACED272122.25
CTS272122.25
FIT272122.25
WTC272122.25
NPXS123120.5
NEBL222119.75
ARKT132115.25
DGB132115.25
SPD132115.25
AEG271113.5
ANS271113.5
BRD271113.5
CANN271113.5
CFI271113.5
COLD271113.5
ELA271113.5
ENJ271113.5
FCT271113.5
FTC271113.5
GBTC271113.5
MSFT271113.5
NFLX271113.5
NXT271113.5
SALT271113.5
SHIFT271113.5
SS271113.5
STRC271113.5
TROLL271113.5
TX271113.5
XSPEC271113.5
HXX92113.25
LBC72112.25
ENG16118
WINGS16118
EXP9114.5
OCP9114.5
SBUX9114.5
HEXX7113.5
AION4112
AGI3111.5
AMP0110
DIME0110
GVT0110
MAID0110
MBC0110
TRON0110
TXR0110

 

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.

Start trading cryptocurrency with Coindirect.

Written by

Remy Stephens is a longtime data journalist from the U.S. who became mildly obsessed with cryptocurrency in 2017. More of his sentiment analysis can be found on Steemit. @FomoCryptoDojo

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