General reminder: This is one of three types of sentiment analysis I do. The daily analysis will likely only benefit short term traders. The weekly analysis I do is best suited for swing traders. And the monthly analysis is my more long-term offering.
There seems to be a bit more tension in the air than there has been recently.
Volume and enthusiasm dwindled a bit in the Alt market last week, and the rejection of $BTC at $10K seems to be having a psychological impact after so much buildup.
The sentiment on the Alts in particular over the last three days has been the lowest during a half week stretch since early April. A healthy pullback after a roaring April was always likely, but the feeling among the 40 influencers and traders I follow is the least confident its been in a while, which is worth noting.
There isn't anything that jumps out at me in the data just yet, but just wanted to do a quick post and point out the change. We'll see what tomorrow brings. Trade safe.
As always, here's the market data for today:
| Coin | Positive | Neutral | Negative | Total Mentions | Power |
|---|---|---|---|---|---|
| BTC | 2 | 3 | 8 | 13 | -6 |
| ETH | 2 | 0 | 0 | 2 | 2 |
| LTC | 0 | 1 | 0 | 1 | 0 |
| BCH | 1 | 0 | 0 | 1 | 1 |
| Alt | 60 | 12 | 12 | 84 | 14* |
Alts get -10 penalty with Majors falling below 0
The Influencers
Who am I?
I'm an investigative data journalist during the day, and I've been looking for a way to cut through the noise and get a true sense of what some of the biggest crypto influencers are pushing toward and pulling away from.
Using a pseudonym here because I can't post about this shit on my verified accounts. I've become mildly obsessed with crypto and its constant stream of data and needed an outlet. So here I am.
What is this?
Each week, I scrape the Twitter accounts of some of the crypto world's favorite influencers, traders and TA folk. I run a basic sentiment analysis to see which coins they are mentioning positively, in a neutral way and which they are mentioning in a negative light.
I calculate "power" simply by subtracting negative mentions from positive ones to give an aggregate score. The higher the score, the better, the lower the worse. For the daily rankings, I also create aggregate scores for the majors and the Alt markets. The Alts get a 10 point deduction any time the majors go below zero, since overall the Alt-market has a tough time staying above water when BTC is in a spiral.
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.