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Editorial

Analysis: The sentiment behind the top 10 coins heading into the week

In this week’s analysis, Remy Stephens dives in to explore the sentiment behind ten cryptocurrencies ready to shine in the market.

Written by Remy Stephens Published on

It seems like every few weeks we find ourselves at this point.

We’re standing at the edge of the Bitcoin cliff, wondering if when we step off we’ll fall or if a magic elevator will suddenly take us up another floor.

I’ve been monitoring sentiment levels on Bitcoin closely over the last few weeks and it provides nothing but anxiety. If you’re new here, I track the social media postings of 135 crypto traders and influencers to see which coins they feel positively on and which they don’t.

And Bitcoin just hasn’t shown me what I wanted.

There’s still no major shift to the positive in recent weeks, which is what you want to see for a sign of a true bull reversal.

Most of the crypto folk I follow have been on the record saying we haven’t struck a true bottom yet, and that shows here. You can see the sentiment bottom at the end of June, when we dipped into the $5,700s briefly.

Things have rebounded since, but if you look at the tops, they’re not getting any higher, and that’s worrisome. This tells me we’re not done going down, be it today or two weeks from now. So, as always, be careful and be vigilant. As Bitcoin goes, so go the Alts.

The Top Coins

These coins/tokens rated highest on my power rating system, which uses a weighted formula combining sentiment, volume and the number of unique influencer mentions. For a key to the charts below, check the pinned tweet on my Twitter account.

 

10.

9.

8.

7.

6.

5.

4.

3.

2.

1.

 

The Data

As always, here’s all the data for the coins I tracked this week.

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CoinVolumeSentiment (of 100)InfluencersPower Rating
ACED890479.25
ACM21214.75
ADA18581174.75
AGI1211
AION528445
AKA188144
ALQO471362.75
AMP253240.75
APPC1211
ARDR214113.25
ARK228228.25
ARO20214.25
AURA245236.75
BAT1045762.75
BCASH171135.5
BCC128114
BCH762566.25
BCN661564.75
BCO171135.5
BIS728447
BLZ36328.25
BNB753764.25
BND283255.75
BPT11417
BTC4904312271.5
BTS228228.25
CAN245128.75
CRW264246.25
CVC128114
DASH1942663
DAXT344241.25
DBIX271141.75
DCR462358.25
DENT520543.25
DEV2122552.5
DGB26861591
DGD128114
DIG483262.75
DNR271249.75
DOGE670569.25
DP283255.75
DRGN1171877.75
ELF842455.25
ENG36222.25
EOS25101152.25
EQT1010
ETC16591074
ETH26272062
ETN1613
EVE414228.25
FOR211219.75
GAME128114
GIN587474.5
GVT2217.25
HKN191145.5
ICX10241054.25
IFT1613
INS291259.75
IOTA1114949.75
KEC198149
KLKS322230.25
KMD350350.25
LBC469463.5
LEND849561
LINDA1064259.75
LINK2619.25
LOOM228228.25
LTC20271058.75
LUX296262.25
MAN353351.75
MANA871774.5
MBC171135.5
MINT128114
MSP353245.75
MTL528547.25
MWAT191145.5
NANO291259.75
NCASH425339.75
NCP128114
NEBL128114
NEO59803189
NEXO322230.25
NIO171135.5
OCN20681180
OMG420439
ONT718746.75
OST1069470
PHR2061875
PIRL128114
PIVX1313236
PK36222.25
POE1352768
POLY451246.75
POWR128114
PRL291259.75
PROC1110.5
PURE211111.75
QKC683473.5
REL198149
REP128114
RLT295153.75
RPX319228.75
SCT288150.25
SEND25216.75
SENT771570.75
SHIFT25216.75
SKY1613
SMART153126.5
SPHTX153126.5
SPX271249.75
SPY411332.75
SS945457.75
STORM571466.5
STR483470.5
STRAT1064671
SYS106405169.5
TAU191145.5
TEL653250.75
TFD1149664.25
TKY350350.25
TRAC196148
TRIG188144
TRX16591074
TSC196148
TSLA264246.25
TUBE198149
TWTR128114
UBQ371254.75
VEN1271675.75
VIA820850.25
VIO128114
VOISE11417
VTC128114
WABI718645.5
WAN20221658
WAVES1252868.75
WTC553559.75
XBT44223.25
XHV191145.5
XLM1113747.5
XLQ245236.75
XLR3581785.5
XMN788375.25
XMR864669.75
XN245236.75
XP663147.75
XPTX198149
XRH760666.5
XRP24141254.5
XSN464253.25
XTL171135.5
XTZ17261259
XVG1341762.5
XZC1244458.75
ZCL464145.25
ZEC628344.25
ZEN381365.75
ZIL681472.5
ZPT283255.75
ZRX21251159.25

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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