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Analysis: 11 coins with fresh sentiment while Bitcoin remains stagnant

In this week’s analysis, Remy Stephens explores the positive side of the altcoin market.

Written by Remy Stephens Published on

I guess I was naive to think the Tether dump and Bitcoin pump would shake us out of the doldrums and get the big boy to finally pick a direction.

Alas.

But that’s not bad news for the Alt market. As $BTC continues to hover in its ever narrowing range in the mid $6000s, many Alts are seeing some nice, and sustained, bullishness for the first time in a while.

Unlike in previous Alt runs, this time it comes with the ever-present anxiety over $BTC and the fear it’ll dump.  Let’s look at the market charts.

Disclaimer: I wrote this on Sunday night after close, so if something crazy happened between then and publication ¯\_(ツ)_/¯. 

$BTC’s sentiment went negative on Sunday for the first time in a few weeks, but that’s not necessarily a bad thing.  As I mentioned last week, Bitcoin has recently been posting it’s biggest losses after a peak in sentiment.

And after the $USDT-influenced pump, we just haven’t seen that. While sentiment has been positive it just hasn’t reached the heights that we’ve seen over the last few months before a major drop.

I’ve been seeing more of the 150 or so influencers (who weren’t randomly banned by Twitter) I follow have been cautiously suggesting we may be out of the woods, for 2018 at least. Even with those additional statements, there’s not enough confidence behind them to make much of it yet.

In the meantime, sentiment on the Alt market remains generally positive. I’d expect that to continue if $BTC maintains course, but that’s a big if. One thing that jumps out in particular is $LTC topping the charts after having abysmal sentiment for months.

Trade safe.

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.

Warning Signals (New)

As I’ve been mentioning in recent weeks, high sentiment doesn’t always mean a bull trend is coming. It can also mean one has peaked.  So from this point forward, I’ll be noting any coins in the top Alts that have posted significant gains in the week prior.

Doesn’t mean the trend can’t continue, but give it an extra bit of research before you dive in.

Look before you leap on these ones:

$SALT$PIVX
$DERO$TFD

I’m going to integrate this more elegantly in the coming weeks, but wanted to start somewhere. To the list!

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The Data

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

CoinSentiment (of 100)VolumeInfluencersPower Rating
ABT0110
ACM858278
ADA47171171.75
ADC861143
ADX4629261.5
AE845275.5
AGI14117
AION398461.75
ALEF961148
ALQO52228.25
AMB386253.25
AMD201110
ANON911145.5
APOT642143.5
ARDR201110
ARN781139
ARO392131
ATMI22226.75
ATVI82115.5
AURA734268.5
BANCA641132
BAT46361672
BAT-471123.5
BBK861143
BCH3713965.5
BCO475361.5
BITG781139
BITX201110
BLOCK596368.25
BLT201110
BLZ981149
BNB769883.25
BNT202235.75
BPT201110
BQX472249.25
BSM203240.25
BTC4138512970.5
BTC-5112.5
BTCP14117
BVO742262.75
BWK3510358.5
BXY124342.5
BXZ471123.5
BZX774375
CAL641132
CDM911145.5
CFI941147
CLOAK4112
CMT472249.25
CND641132
CNN82229.75
COB773268.75
COLX194241.5
COV201110
CPC471123.5
CRM643262.25
CTR8114
CV861143
CVC471123.5
DACC355355.5
DADI781139
DAPS1110.5
DASH2111
DAX781139
DBC742148.5
DBIX578264
DBX201110
DCR122231.75
DERO6419879.25
DEV892270.25
DGB742262.75
DGTX8114
DIME201110
DIS122117.5
DJI201110
DJIA2111
DLT981149
DNT43232.25
DOGE592255.25
DOT574146.25
DRG201110
DRGN598471.75
DTA473253.75
DTB961148
DXY472249.25
DYN781139
EGEM861143
ELF471123.5
ENG201110
ENJ392131
EOS574467.25
EQX641132
ESCO1110.5
ETC207753.75
ETH38452168.25
ETHOS14117
EUR176242.75
EURJPY742148.5
EVI951147.5
EVX861143
EZW201110
F14117
FLASH942158.5
FOR€¦201110
FOT8114
FOTA72229.25
FOTO781139
FOXA5112.5
FRN5112.5
FSN14117
FUEL52114
GAS592141
GAX201110
GE368139.25
GFY143237.25
GIN202235.75
GO825379
GTO861143
GVT568772.25
HBZ641132
HD1110.5
HKN853158.5
HLM471123.5
HOT8512486.5
HPB471123.5
HT133122.5
HXRO42227.75
HYDRO201110
HYG8114
ICX35633067
IFT0110
INS2111
ION201110
IOP641132
IOTX173343.25
IPSX746271.25
IRD641132
IWM12112
JC201110
JNJ471123.5
JNUG781139
KCS201110
KEY941147
KLKS7812584
KMD457565.25
KNC832153
KOBO471123.5
KRL392131
KUBO392131
LBC201110
LEE201110
LEND861143
LEND€¦781139
LGO471123.5
LILI201110
LINK368460.25
LISK471123.5
LNS642143.5
LTC9012891.25
LTC€¦471123.5
LTHN837162.25
LUN933381.25
LUPX392245.25
LUX775272
MAID472135
MAN4711467
MAS936385.25
MAX644149.75
MCO911145.5
MDA4410867.5
METM428361
MFT634368
MGO202235.75
MOD577470.25
MORE951147.5
MSP202121.5
MSR356458.5
MTC911145.5
MU0110
MUE742262.75
NANO427764.75
NAV84340.5
NCASH0110
NDX424459.75
NEBL173238.75
NEO44141069.5
NEX471123.5
NEXO911145.5
NFLX832153
NIO834378
NIX52228.25
NLX941147
NPXS73171284.75
NVDA173343.25
NXPS641132
OCE781139
OCN634470.25
OMG5911574
OST903379.75
PAI911145.5
PAL912157
PASC52228.25
PAX861143
PAXOS472135
PFE122117.5
PHR4713669.25
PINK981149
PIRL592255.25
PIVX825481.25
PK472135
POA744373.5
POE84340.5
POLY427563.75
POWR961148
PPT583259.25
PRL861143
QKC205243.5
QNT893274.75
QTUM4716971
REP641132
REQ416562.5
RHOC202235.75
RICKS961148
RLC641132
ROKU641132
RPM641132
RTO72115
RUPX8114
RVN42241569.75
RYO6410373
SALT6211676
SC135344.5
SEELE4112
SHA592141
SHIFT781139
SHLD201110
SILVER641132
SNAP142232.75
SNGLS641132
SPR981149
SPX471123.5
SPY76342.25
SQ172234.25
SS598265
STONE14117
STR201110
STRAT204242
SUB641132
SUMO14117
SWM392245.25
TEMCO471123.5
TES782150.5
TFD7313682.25
TIPS201110
TLHN471123.5
TNT392131
TOMO7710481.75
TRIG201110
TROLL142118.5
TRX45141070
TUBE473358.25
UBQ201110
UUU648267.5
VEN961148
VET6333979.75
VIA623365.75
VIB201110
VIBE781139
VIX641132
VNX201110
VOT941147
VOTE861143
VTC951147.5
VZ961148
WABI4416768.75
WAN204448.75
WAVES456361.25
WAX641132
WE641132
WENDO742262.75
WGR201110
WPR201110
WSX892156
WTC473253.75
XBY201110
XEL642257.75
XEM173238.75
XHV37191266.75
XHVD]201110
XLM5912875.75
XLQ424253
XLR5912875.75
XMR574467.25
XRB201110
XRN82229.75
XRP38392168
XSN475361.5
XSN€¦911145.5
XTL5811573.5
XTZ643366.75
XVG85237.5
XWC981149
XZC113340.25
YZY206130
ZCL173343.25
ZCN743267.25
ZEC4615870
ZEL201110
ZEN201110
ZER832153
ZIL369662.5
ZINC201110
ZNZ861143
ZPT643262.25
ZRX19572659
ZZZ1110.5

 

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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