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Analysis: 11 coins with sizzling sentiment as BTC wobbles

Our sentiment analyst, Remy Stephens, explores high performing altcoins this week as Bitcoin prices teeter in the market.

Written by Remy Stephens Published on

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 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

CoinSentiment
(of 100)
VolumeInfluencersPower Rating
ABT0110
ACED931146.5
ADA40251568.25
ADX641132
AE114236.75
AGDN901145
AGG481124
AGI816160.75
AION3919866.75
ALQO586469.5
AMB641132
AMGN3111.5
ANON785271.75
ANS851142.5
APOT2111
ARK594467
ARN365457
ARO54440
AURA814157.75
BAT64191179.75
BAX641132
BAY201110
BBK483356.5
BBP641132
BCC931146.5
BCH4510868
BCN399965
BCO0110
BDG201110
BIS851142.5
BIX201110
BLOCK203124
BLZ201110
BNB6216777.25
BOX851142.5
BQX641132
BTC414378770.5
BTS201110
BVO991149.5
BWK7417581.75
BXY743369.5
BYC0110
BZX743151
CATO643364.5
CHF52113.25
CLO931146.5
CLQ811140.5
CMT788480.75
COLX165126.75
CRM901145
CTK3111.5
CV933274.5
CYFM811140.5
DACC852267.25
DAI642142.75
DALA991149.5
DAX165548.25
DAXT481124
DBIX595262.25
DCR206348.75
DERO6013371
DEV483252
DGB435561.75
DGTX7113.5
DIG11115.5
DIS0110
DJI157549.75
DLT991149.5
DNT32226.25
DOGE613363
DOT183123
DOW52227.25
DP901145
DRGN112230.25
DTB481124
DXY201110
DYN483138
ECC852267.25
EDG402130.75
EGEM851142.5
ELA641132
ELF443136
ENG365250.75
EOS35181365.25
EQLI201110
ESE481124
ETC15141254.25
ETH19502858.75
ETN643260
EVI951147.5
EVX613258.5
FLASH971148.5
FOTA4613259.5
FTC641132
FUEL443136
GAS481124
GAX201110
GE201110
GEO971148.5
GFY54338.25
GIN644367.75
GMT7113.5
GP201110
GRS811140.5
GVT762148.75
HEXX201110
HKN75442.5
HOT4810668.5
HT114236.75
HXRO202234.75
ICX42291269.25
INS103233
IPSX644149.25
KEY805272.75
KLKS6126373.25
KMD793267.5
KNC201110
LAND3111.5
LBC3111.5
LEND402244.75
LGO481124
LIFE811140.5
LINDA481124
LINK383247
LOOM639473.5
LSK402244.75
LTC5815875.5
LTHN201110
LUN203238
LUPX201110
LUX195346.75
MAID641132
MANA892269.25
MAS851142.5
MBC201110
MCD901145
MCO793372
MDA3615764
MDN481124
MDX482134.75
METM5621266
MFI443136
MFIN201110
MFT443354.5
MKR201110
MOD429463
MONK73117.5
MORE7113.5
MSP641132
MTC11115.5
MTH201110
MTL195448.5
MUE484255.25
MVIS201110
MWAT811140.5
NCASH202120.75
NCT481124
NDX201110
NEO157650.75
NEO�_�811140.5
NEX201110
NEXO903377.5
NIFTY951147.5
NIO644263.25
NIX72228.25
NOAH0110
NOS971148.5
NPXS63542280.5
NPXSONCE851142.5
NVDA613258.5
NXPS201110
NXS901145
OAX1110.5
OCE762148.75
OCN163340.5
OMG103337.5
ONION931146.5
ONT201110
OST971148.5
PAC11115.5
PASC174239.75
PAY201110
PHORE3111.5
PHR578470.25
PIRL762262.75
PIVX203238
PK584260.25
POA962272.75
POLY78546.5
POWR971148.5
PPI7113.5
PPT642142.75
QASH11115.5
QKC377253.25
QLC596263.75
QNT852153.25
QTUM465360.25
RCN11115.5
REN641132
REP374456
REQ383351.5
RUPX112116.25
RVN56131074.25
SAFEX201110
SC642256.75
SCRL204345.75
SCT852153.25
SEM971148.5
SHA465141.75
SKY744268.25
SNAP435460.5
SNGLS641132
SNM592254.25
SNT642256.75
SPANK951147.5
SPHTX23229
SPX1710753.5
SPY75340.75
SQ762148.75
SRN641132
STEEM901145
STONE184126.25
STR201110
STRAT793153.5
STRC22225.75
SUB383247
SWM796273.75
TEL481124
TES641132
TFD766376.75
TIPS201110
TKY762262.75
TOMO3913563.5
TRAC851142.5
TRIG357660.75
TRX48552673.25
TUBE755577.75
UBQ485463
URA201110
UUU617151.25
VEO201110
VET8417586.75
VIA482248.75
VIB202120.75
VIBE811140.5
VIDZ202234.75
VITAE481124
VNX642142.75
VRH851142.5
WABI4718669.5
WAN113119.5
WAVES933160.5
WAX481124
WE22111.75
WSTRF641132
WTC2014554.25
XAU201110
XBY201110
XCU583257
XFE641132
XHV73461385
XLM4811769.5
XLMBTC931146.5
XLR4320465.5
XMC481124
XMR808583
XMY481124
XRP40522669
XSN901145
XTL7522784.5
XVG577671.75
XZC457143.25
ZCL73336
ZIL188552
ZILBTC852153.25
ZINC201110
ZRX47773073

 

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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