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Analysis: The 14 coins with scorching sentiment as Bitcoin remains stable

In this week’s analysis, Remy Stephens explores the tokens with the hottest sentiment going into the week while Bitcoin remains solid.

Written by Remy Stephens Published on

Another week of Bitcoin stability, and another week of strength for the Alts.

Take away the Tether mess from a few weeks ago, and Bitcoin has been trading within about a $300 USD range since the middle of September. That’s allowed the Alt coin market to go on a nice little run after months of decline.

But the big question is, how long will it last? Have we seen a $BTC bottom for the short term, or are we just delaying the inevitable leg down? It’s getting harder and harder to tell. 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)_/¯. 

The chart above shows sentiment on $BTC and the Alt market for the last two months.

While the price has remained stable, sentiment on $BTC has become a lot more erratic in recent days. The 150 influencers I track seem on edge, and every time Bitcoin so much as sneezes, it seems like sentiment completely shifts.  Something’s bound to break sooner or later, but folks, at this point, seem pretty unsure of what will happen next.

In the meantime, that’s fine news for the Alts, which during the same span have seen money flow back into the market and prices rise. So long as $BTC remains a stablecoin, there’s no reason to think that’ll change.

Some notable things on the Alt chart this week.  Both $LTC and $HOT are in the top 5 for the second week straight without a major price move. Additionally, $ICX made its way into the top 10 for the first time in months.

But keep a close eye on $BTC, as a significant move could have a pretty dramatic effect on the rest of the market pretty quick.

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.

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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
ACM767157.25
ADA408762.25
ADC192231.5
ADX486142.25
AGIBTC822150.25
AID481124
AION766476
ALQO6112472.25
AMB195344
AMD19119.5
APH952156.75
APOT814156.5
ARCHS481124
ARK705572.75
ARN464356.5
ARO54438.25
AST12116
AUC481124
AUD19119.5
AURA785475.75
BABA102114.25
BAT43471770.25
BBK932155.75
BCC193235.75
BCD481124
BCH178650
BCO437253.5
BIS5812974.25
BLK2111
BMH972270.5
BNB829783.75
BNT19119.5
BQX19119.5
BSM73117
BTC383967869
BTC€¦483355
BTG481124
BVO952269.5
BWK7814582.25
BXY402242
BZX481124
CATO481124
CHX7811160.5
CLO7113.5
CLOAK763264.25
CNN806375.75
COB622140.25
COLX19119.5
COSS€¦19119.5
COST0110
COV19119.5
CPC19119.5
CRW481124
CV991149.5
CVC19119.5
DACC153233.75
DAG821141
DASH482246
DB19119.5
DBC1310127.5
DBIX126124.25
DBX2111
DCR1811853.25
DENT19119.5
DERO5910263.25
DEV697266.5
DGB102227
DIG192231.5
DIS402129.25
DJI53333.5
DNR953161
DOCK759375.5
DOGE118546.25
DOT701135
DP701135
DRGN479866.75
DTA483250.25
DYN19119.5
ECC864271.75
EDG482246
EDR683260.25
EEM19119.5
ELA481124
ELF701135
ENG42224
EOS933377.5
ES481124
ESE192118.75
ETC402242
ETH14462656.25
ETN19119.5
ETNX883157.5
ETST19119.5
EVE405249.75
EVX52111.75
FLDC404353.5
FOR481124
FOTA6210264.75
FUEL192231.5
FUN971148.5
G622253
GAT1110.5
GBP892153.75
GDX702144.25
GFY144235.75
GIN8910586.25
GLD7113.5
GNT891144.5
GO704263.75
GRFT931146.5
GTO19119.5
GVT6717779
HD103118.5
HKN932268.5
HLM443135.5
HOT8819487.25
HVC481124
HXRO821141
HYDRO19119.5
ICX70141381.75
INXT19119.5
ION19119.5
IOST1911348.5
IOTA165545.75
IOTX408252.75
JFC931146.5
KEY4817970.5
KIN19119.5
KLKS6915679
KMD899686.5
KNC865272.75
KUBO74232.25
LBC192231.5
LEND174342
LINK3811460.25
LMC0110
LOKI486359.75
LPC701135
LSK402129.25
LTC8013683.75
LTC€¦481124
LTHN965165
LUN766476
LUPX701135
LUX173339.5
MAC19119.5
MAID19119.5
MAN6014674
MANA622253
MAS803266.25
MAX2111
MCO1863756
MDA162230
MET19119.5
MFT59281777.5
MGO122228
MORE821141
MSP798681
MSR153121
MSR€¦19119.5
MTC794155.5
MTH19119.5
MTL19119.5
MU0110
MUE893270.75
MUTEX792261.5
MUTX2111
MWAT628263.75
NANO923377
NAV7113.5
NCASH457663.25
NDX122115.25
NEBL4510564.25
NEO486462
NEX19119.5
NEXO615467.25
NEXO-481124
NGC192118.75
NIO792261.5
NIX114234.25
NPC19119.5
NPXS40291768.25
NVDA7113.5
NXPS19119.5
NXS19119.5
OAX192118.75
OCE703148.5
OMF702144.25
OMG803371
ONT482246
OST872265.5
PAL975165.5
PART481124
PASC675368
PASS971148.5
PAT19119.5
PEP891144.5
PHR6915578.25
PHX3811963.75
PIVX63334
PK4616259
PLA821141
PMA2111
POA22223
POE193340.5
POLY6214775.75
POWR891144.5
PPT153233.75
PRL449360
PRO922268
PTOY19119.5
QKC402242
QNT1814653
QQQ194343
QSP701135
QTUM597670.25
RCN891144.5
RDN19119.5
REN603256.25
REP883270.25
REQ2111
RHOC42224
ROKU701135
RPM443135.5
RTO122115.25
RUPX481124
RUT19119.5
RVN591194079
RYO701135
SALT377659.25
SC6829981.25
SCRL822150.25
SHA877162.75
SHIFT393350.5
SIA1110.5
SMART701135
SNAP763369
SNGLS481124
SNM703261.25
SPHTX74337
SPX3710761.75
SPY913344.25
SQ>481124
SS7630683.5
START0110
STORM62331779.5
STRAT45221270.25
SWM932155.75
TEL891144.5
TFD4430969.25
THETA19119.5
TNB457359.25
TNT192118.75
TOMO192231.5
TRAC931146.5
TRI481124
TRTL165125
TRTX981149
TRX1418853.25
TUBE872265.5
U481124
UBQ686472
UBT821141
UEC19119.5
UP821141
UPP7113.5
URA701135
UUU867482
VERI981149
VET66581081.5
VET€¦821141
VIA7517883.5
VIB65439.75
VIBE19119.5
VIVID482133.25
VIX482246
VOT971148.5
VTHO481124
VZ991149.5
WABI803266.25
WAN3915965.75
WAVES483137.5
WAX865272.75
WE22110.25
WSX922155.25
WTC4010964.25
WWE19119.5
XAU19119.5
XBI192231.5
XBT77543.5
XBY626366.75
XCD622140.25
XDN931146.5
XHV66261781
XLM118445.25
XLQ464356.5
XLR675368
XMR39241067.25
XPTX952156.75
XRB1110.5
XRP47792873
XRR821141
XSN626469
XTL6036977.5
XTZ19119.5
XVG622253
XZC6213674.75
Y19119.5
YOYO683260.25
YZY377137.75
ZCL12116
ZCO981149
ZEC6210874.75
ZEL19119.5
ZEN856273.5
ZER7612272.75
ZERO19119.5
ZIL6614777.75
ZINC615260.25
ZNZ891144.5
ZOI2111
ZPT484252.75
ZRX1814954.75

 

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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