Binance and CZ fight back with a motion of dismissal
Following the lawsuits against Binance from the SEC, the exchange and its CEO have filed a motion of dismissal.
This has got to be the worst time to be trading crypto
At least a few months ago, it was pretty clear we were in a downtrend. Now, every move of Bitcoin /strong> is micro-analyzed, even as those moves become more microscopic, with everyone hoping to find signs that we might finally be turning around.
But as of right now, looking at sentiment analysis, most signs still point down (this morning’s spike and $USDT craziness notwithstanding). Let’s look at the market charts to see what I’m talking about.
Disclaimer: I write these things late Sunday night, generally. So if something big happens between then and publication, ¯_(ツ)_/¯.
For the last few months, Bitcoin just can’t get any sustained sentiment going.
We had a peak again last week, leading up to our big drop on the 10th. And that’s the been the pattern for the last few months. We get some sustained bullish action, we reach a peak, people get excited that it’s going to continue and then, bam, the bottom falls out.
Sentiment rebounded pretty quick, as did the price of Bitcoin, and we remain in the narrowing price channel we’ve been in so far this fall.
That’s not terrible news for Alts, who have been able to ride Bitcoin’s stability to some nice gains. Sentiment has fallen recently with less certainty surrounding Bitcoin, but as long as we don’t see another major drop, people may continue to test the waters and throw some money into other currencies.
A couple of things worth noting in the Alts market. You can expect some continued buzz around $ADA, $BAT, $XLM and $ZEC as the world awaits which coin will next be added to Coinbase. As you likely know, $ZRX began trading on Coinbase Pro last week and saw a healthy bump. $BAT has been in my weekly picks for a few weeks now and continues to be the highest rated of the “Coinbase 5”, by sentiment.
Another thing worth noting is $BNB. Binance’s native currency has been in the weekly picks for the last two weeks. Generally speaking, $BNB does best in bear markets as the strongest exchange-based coin. If things turn south, it may be worth watching.
Stay vigilant though. Eventually, Bitcoin is going to have to pick a direction and it’ll probably be more dramatic than we’ve seen when it does.
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.
One important note: Pay close attention to the previous week’s price action. High sentiment can indicate both a possible move or a possible peak in price, however temporary. I’ll be adding signals soon to indicate this, but be wary of any coin with a major price shift in the last week.
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The Data
| Coin | Sentiment (of 100) | Volume | Influencers | Power Rating |
|---|---|---|---|---|
| ABT | 0 | 1 | 1 | 0 |
| ACED | 93 | 1 | 1 | 46.5 |
| ADA | 40 | 25 | 15 | 68.25 |
| ADX | 64 | 1 | 1 | 32 |
| AE | 11 | 4 | 2 | 36.75 |
| AGDN | 90 | 1 | 1 | 45 |
| AGG | 48 | 1 | 1 | 24 |
| AGI | 81 | 6 | 1 | 60.75 |
| AION | 39 | 19 | 8 | 66.75 |
| ALQO | 58 | 6 | 4 | 69.5 |
| AMB | 64 | 1 | 1 | 32 |
| AMGN | 3 | 1 | 1 | 1.5 |
| ANON | 78 | 5 | 2 | 71.75 |
| ANS | 85 | 1 | 1 | 42.5 |
| APOT | 2 | 1 | 1 | 1 |
| ARK | 59 | 4 | 4 | 67 |
| ARN | 36 | 5 | 4 | 57 |
| ARO | 5 | 4 | 4 | 40 |
| AURA | 81 | 4 | 1 | 57.75 |
| BAT | 64 | 19 | 11 | 79.75 |
| BAX | 64 | 1 | 1 | 32 |
| BAY | 20 | 1 | 1 | 10 |
| BBK | 48 | 3 | 3 | 56.5 |
| BBP | 64 | 1 | 1 | 32 |
| BCC | 93 | 1 | 1 | 46.5 |
| BCH | 45 | 10 | 8 | 68 |
| BCN | 39 | 9 | 9 | 65 |
| BCO | 0 | 1 | 1 | 0 |
| BDG | 20 | 1 | 1 | 10 |
| BIS | 85 | 1 | 1 | 42.5 |
| BIX | 20 | 1 | 1 | 10 |
| BLOCK | 20 | 3 | 1 | 24 |
| BLZ | 20 | 1 | 1 | 10 |
| BNB | 62 | 16 | 7 | 77.25 |
| BOX | 85 | 1 | 1 | 42.5 |
| BQX | 64 | 1 | 1 | 32 |
| BTC | 41 | 437 | 87 | 70.5 |
| BTS | 20 | 1 | 1 | 10 |
| BVO | 99 | 1 | 1 | 49.5 |
| BWK | 74 | 17 | 5 | 81.75 |
| BXY | 74 | 3 | 3 | 69.5 |
| BYC | 0 | 1 | 1 | 0 |
| BZX | 74 | 3 | 1 | 51 |
| CATO | 64 | 3 | 3 | 64.5 |
| CHF | 5 | 2 | 1 | 13.25 |
| CLO | 93 | 1 | 1 | 46.5 |
| CLQ | 81 | 1 | 1 | 40.5 |
| CMT | 78 | 8 | 4 | 80.75 |
| COLX | 16 | 5 | 1 | 26.75 |
| CRM | 90 | 1 | 1 | 45 |
| CTK | 3 | 1 | 1 | 1.5 |
| CV | 93 | 3 | 2 | 74.5 |
| CYFM | 81 | 1 | 1 | 40.5 |
| DACC | 85 | 2 | 2 | 67.25 |
| DAI | 64 | 2 | 1 | 42.75 |
| DALA | 99 | 1 | 1 | 49.5 |
| DAX | 16 | 5 | 5 | 48.25 |
| DAXT | 48 | 1 | 1 | 24 |
| DBIX | 59 | 5 | 2 | 62.25 |
| DCR | 20 | 6 | 3 | 48.75 |
| DERO | 60 | 13 | 3 | 71 |
| DEV | 48 | 3 | 2 | 52 |
| DGB | 43 | 5 | 5 | 61.75 |
| DGTX | 7 | 1 | 1 | 3.5 |
| DIG | 11 | 1 | 1 | 5.5 |
| DIS | 0 | 1 | 1 | 0 |
| DJI | 15 | 7 | 5 | 49.75 |
| DLT | 99 | 1 | 1 | 49.5 |
| DNT | 3 | 2 | 2 | 26.25 |
| DOGE | 61 | 3 | 3 | 63 |
| DOT | 18 | 3 | 1 | 23 |
| DOW | 5 | 2 | 2 | 27.25 |
| DP | 90 | 1 | 1 | 45 |
| DRGN | 11 | 2 | 2 | 30.25 |
| DTB | 48 | 1 | 1 | 24 |
| DXY | 20 | 1 | 1 | 10 |
| DYN | 48 | 3 | 1 | 38 |
| ECC | 85 | 2 | 2 | 67.25 |
| EDG | 40 | 2 | 1 | 30.75 |
| EGEM | 85 | 1 | 1 | 42.5 |
| ELA | 64 | 1 | 1 | 32 |
| ELF | 44 | 3 | 1 | 36 |
| ENG | 36 | 5 | 2 | 50.75 |
| EOS | 35 | 18 | 13 | 65.25 |
| EQLI | 20 | 1 | 1 | 10 |
| ESE | 48 | 1 | 1 | 24 |
| ETC | 15 | 14 | 12 | 54.25 |
| ETH | 19 | 50 | 28 | 58.75 |
| ETN | 64 | 3 | 2 | 60 |
| EVI | 95 | 1 | 1 | 47.5 |
| EVX | 61 | 3 | 2 | 58.5 |
| FLASH | 97 | 1 | 1 | 48.5 |
| FOTA | 46 | 13 | 2 | 59.5 |
| FTC | 64 | 1 | 1 | 32 |
| FUEL | 44 | 3 | 1 | 36 |
| GAS | 48 | 1 | 1 | 24 |
| GAX | 20 | 1 | 1 | 10 |
| GE | 20 | 1 | 1 | 10 |
| GEO | 97 | 1 | 1 | 48.5 |
| GFY | 5 | 4 | 3 | 38.25 |
| GIN | 64 | 4 | 3 | 67.75 |
| GMT | 7 | 1 | 1 | 3.5 |
| GP | 20 | 1 | 1 | 10 |
| GRS | 81 | 1 | 1 | 40.5 |
| GVT | 76 | 2 | 1 | 48.75 |
| HEXX | 20 | 1 | 1 | 10 |
| HKN | 7 | 5 | 4 | 42.5 |
| HOT | 48 | 10 | 6 | 68.5 |
| HT | 11 | 4 | 2 | 36.75 |
| HXRO | 20 | 2 | 2 | 34.75 |
| ICX | 42 | 29 | 12 | 69.25 |
| INS | 10 | 3 | 2 | 33 |
| IPSX | 64 | 4 | 1 | 49.25 |
| KEY | 80 | 5 | 2 | 72.75 |
| KLKS | 61 | 26 | 3 | 73.25 |
| KMD | 79 | 3 | 2 | 67.5 |
| KNC | 20 | 1 | 1 | 10 |
| LAND | 3 | 1 | 1 | 1.5 |
| LBC | 3 | 1 | 1 | 1.5 |
| LEND | 40 | 2 | 2 | 44.75 |
| LGO | 48 | 1 | 1 | 24 |
| LIFE | 81 | 1 | 1 | 40.5 |
| LINDA | 48 | 1 | 1 | 24 |
| LINK | 38 | 3 | 2 | 47 |
| LOOM | 63 | 9 | 4 | 73.5 |
| LSK | 40 | 2 | 2 | 44.75 |
| LTC | 58 | 15 | 8 | 75.5 |
| LTHN | 20 | 1 | 1 | 10 |
| LUN | 20 | 3 | 2 | 38 |
| LUPX | 20 | 1 | 1 | 10 |
| LUX | 19 | 5 | 3 | 46.75 |
| MAID | 64 | 1 | 1 | 32 |
| MANA | 89 | 2 | 2 | 69.25 |
| MAS | 85 | 1 | 1 | 42.5 |
| MBC | 20 | 1 | 1 | 10 |
| MCD | 90 | 1 | 1 | 45 |
| MCO | 79 | 3 | 3 | 72 |
| MDA | 36 | 15 | 7 | 64 |
| MDN | 48 | 1 | 1 | 24 |
| MDX | 48 | 2 | 1 | 34.75 |
| METM | 56 | 21 | 2 | 66 |
| MFI | 44 | 3 | 1 | 36 |
| MFIN | 20 | 1 | 1 | 10 |
| MFT | 44 | 3 | 3 | 54.5 |
| MKR | 20 | 1 | 1 | 10 |
| MOD | 42 | 9 | 4 | 63 |
| MONK | 7 | 3 | 1 | 17.5 |
| MORE | 7 | 1 | 1 | 3.5 |
| MSP | 64 | 1 | 1 | 32 |
| MTC | 11 | 1 | 1 | 5.5 |
| MTH | 20 | 1 | 1 | 10 |
| MTL | 19 | 5 | 4 | 48.5 |
| MUE | 48 | 4 | 2 | 55.25 |
| MVIS | 20 | 1 | 1 | 10 |
| MWAT | 81 | 1 | 1 | 40.5 |
| NCASH | 20 | 2 | 1 | 20.75 |
| NCT | 48 | 1 | 1 | 24 |
| NDX | 20 | 1 | 1 | 10 |
| NEO | 15 | 7 | 6 | 50.75 |
| NEO�_� | 81 | 1 | 1 | 40.5 |
| NEX | 20 | 1 | 1 | 10 |
| NEXO | 90 | 3 | 3 | 77.5 |
| NIFTY | 95 | 1 | 1 | 47.5 |
| NIO | 64 | 4 | 2 | 63.25 |
| NIX | 7 | 2 | 2 | 28.25 |
| NOAH | 0 | 1 | 1 | 0 |
| NOS | 97 | 1 | 1 | 48.5 |
| NPXS | 63 | 54 | 22 | 80.5 |
| NPXSONCE | 85 | 1 | 1 | 42.5 |
| NVDA | 61 | 3 | 2 | 58.5 |
| NXPS | 20 | 1 | 1 | 10 |
| NXS | 90 | 1 | 1 | 45 |
| OAX | 1 | 1 | 1 | 0.5 |
| OCE | 76 | 2 | 1 | 48.75 |
| OCN | 16 | 3 | 3 | 40.5 |
| OMG | 10 | 3 | 3 | 37.5 |
| ONION | 93 | 1 | 1 | 46.5 |
| ONT | 20 | 1 | 1 | 10 |
| OST | 97 | 1 | 1 | 48.5 |
| PAC | 11 | 1 | 1 | 5.5 |
| PASC | 17 | 4 | 2 | 39.75 |
| PAY | 20 | 1 | 1 | 10 |
| PHORE | 3 | 1 | 1 | 1.5 |
| PHR | 57 | 8 | 4 | 70.25 |
| PIRL | 76 | 2 | 2 | 62.75 |
| PIVX | 20 | 3 | 2 | 38 |
| PK | 58 | 4 | 2 | 60.25 |
| POA | 96 | 2 | 2 | 72.75 |
| POLY | 7 | 8 | 5 | 46.5 |
| POWR | 97 | 1 | 1 | 48.5 |
| PPI | 7 | 1 | 1 | 3.5 |
| PPT | 64 | 2 | 1 | 42.75 |
| QASH | 11 | 1 | 1 | 5.5 |
| QKC | 37 | 7 | 2 | 53.25 |
| QLC | 59 | 6 | 2 | 63.75 |
| QNT | 85 | 2 | 1 | 53.25 |
| QTUM | 46 | 5 | 3 | 60.25 |
| RCN | 11 | 1 | 1 | 5.5 |
| REN | 64 | 1 | 1 | 32 |
| REP | 37 | 4 | 4 | 56 |
| REQ | 38 | 3 | 3 | 51.5 |
| RUPX | 11 | 2 | 1 | 16.25 |
| RVN | 56 | 13 | 10 | 74.25 |
| SAFEX | 20 | 1 | 1 | 10 |
| SC | 64 | 2 | 2 | 56.75 |
| SCRL | 20 | 4 | 3 | 45.75 |
| SCT | 85 | 2 | 1 | 53.25 |
| SEM | 97 | 1 | 1 | 48.5 |
| SHA | 46 | 5 | 1 | 41.75 |
| SKY | 74 | 4 | 2 | 68.25 |
| SNAP | 43 | 5 | 4 | 60.5 |
| SNGLS | 64 | 1 | 1 | 32 |
| SNM | 59 | 2 | 2 | 54.25 |
| SNT | 64 | 2 | 2 | 56.75 |
| SPANK | 95 | 1 | 1 | 47.5 |
| SPHTX | 2 | 3 | 2 | 29 |
| SPX | 17 | 10 | 7 | 53.5 |
| SPY | 7 | 5 | 3 | 40.75 |
| SQ | 76 | 2 | 1 | 48.75 |
| SRN | 64 | 1 | 1 | 32 |
| STEEM | 90 | 1 | 1 | 45 |
| STONE | 18 | 4 | 1 | 26.25 |
| STR | 20 | 1 | 1 | 10 |
| STRAT | 79 | 3 | 1 | 53.5 |
| STRC | 2 | 2 | 2 | 25.75 |
| SUB | 38 | 3 | 2 | 47 |
| SWM | 79 | 6 | 2 | 73.75 |
| TEL | 48 | 1 | 1 | 24 |
| TES | 64 | 1 | 1 | 32 |
| TFD | 76 | 6 | 3 | 76.75 |
| TIPS | 20 | 1 | 1 | 10 |
| TKY | 76 | 2 | 2 | 62.75 |
| TOMO | 39 | 13 | 5 | 63.5 |
| TRAC | 85 | 1 | 1 | 42.5 |
| TRIG | 35 | 7 | 6 | 60.75 |
| TRX | 48 | 55 | 26 | 73.25 |
| TUBE | 75 | 5 | 5 | 77.75 |
| UBQ | 48 | 5 | 4 | 63 |
| URA | 20 | 1 | 1 | 10 |
| UUU | 61 | 7 | 1 | 51.25 |
| VEO | 20 | 1 | 1 | 10 |
| VET | 84 | 17 | 5 | 86.75 |
| VIA | 48 | 2 | 2 | 48.75 |
| VIB | 20 | 2 | 1 | 20.75 |
| VIBE | 81 | 1 | 1 | 40.5 |
| VIDZ | 20 | 2 | 2 | 34.75 |
| VITAE | 48 | 1 | 1 | 24 |
| VNX | 64 | 2 | 1 | 42.75 |
| VRH | 85 | 1 | 1 | 42.5 |
| WABI | 47 | 18 | 6 | 69.5 |
| WAN | 11 | 3 | 1 | 19.5 |
| WAVES | 93 | 3 | 1 | 60.5 |
| WAX | 48 | 1 | 1 | 24 |
| WE | 2 | 2 | 1 | 11.75 |
| WSTRF | 64 | 1 | 1 | 32 |
| WTC | 20 | 14 | 5 | 54.25 |
| XAU | 20 | 1 | 1 | 10 |
| XBY | 20 | 1 | 1 | 10 |
| XCU | 58 | 3 | 2 | 57 |
| XFE | 64 | 1 | 1 | 32 |
| XHV | 73 | 46 | 13 | 85 |
| XLM | 48 | 11 | 7 | 69.5 |
| XLMBTC | 93 | 1 | 1 | 46.5 |
| XLR | 43 | 20 | 4 | 65.5 |
| XMC | 48 | 1 | 1 | 24 |
| XMR | 80 | 8 | 5 | 83 |
| XMY | 48 | 1 | 1 | 24 |
| XRP | 40 | 52 | 26 | 69 |
| XSN | 90 | 1 | 1 | 45 |
| XTL | 75 | 22 | 7 | 84.5 |
| XVG | 57 | 7 | 6 | 71.75 |
| XZC | 45 | 7 | 1 | 43.25 |
| ZCL | 7 | 3 | 3 | 36 |
| ZIL | 18 | 8 | 5 | 52 |
| ZILBTC | 85 | 2 | 1 | 53.25 |
| ZINC | 20 | 1 | 1 | 10 |
| ZRX | 47 | 77 | 30 | 73 |
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.