Crypto Daily Power Ratings: Bearish sentiment all around for April 5
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Just time for a quick hit today as my wife is still in the hospital (surgery went great). Back to normal hopefully this weekend, with weekly power rankings coming Sunday
The bears appear to be back in control, according to the crypto influencer world.
After staying high on alts yesterday, bearish sentiment returned across the board with the majors widely expected to continue their downward turn today. $BTC fell overnight and ended up with a -5 power rating after largely sideways action yesterday.
Most alts had a pretty decent day yesterday, proving our influencers' prediction of bullish action correct. But the 30 influencers I track were far more pessimistic today and the Alts ended up with a -1 rating after posting a +21 just a day ago.
Still, some alts posted a positive rating. $POE (+4) led the charge after a nice move yesterday and folks remain bullish on $OCN (+3). $LUN (+2) and $TRX (+2) round out our positively rated alts with more than one mention.
What the hell is this? How does it work? See bottom for details
On the ugly side of the ledger, $ZRX posted an abysmal -7 after falling victim to the ol' "Coinbase is going to list [insert coin here]! JK JK JK" trick. $ICX, $POA, $START, $WAN and $XVG also posted negative ratings.
Here's the full chart for all 27 coins I tracked yesterday:
| Coin | Positive | Neutral | Negative | Total Mentions | Power |
|---|---|---|---|---|---|
| POE | 4 | 0 | 0 | 4 | 4 |
| OCN | 3 | 1 | 0 | 4 | 3 |
| LUN | 2 | 0 | 0 | 2 | 2 |
| TRX | 3 | 0 | 1 | 4 | 2 |
| CMT | 1 | 0 | 0 | 1 | 1 |
| ECA | 1 | 0 | 0 | 1 | 1 |
| ELF | 1 | 0 | 0 | 1 | 1 |
| HKN | 1 | 0 | 0 | 1 | 1 |
| LEND | 1 | 0 | 0 | 1 | 1 |
| NEO | 1 | 0 | 0 | 1 | 1 |
| PIVX | 1 | 0 | 0 | 1 | 1 |
| SKY | 1 | 0 | 0 | 1 | 1 |
| SUB | 1 | 0 | 0 | 1 | 1 |
| TEL | 1 | 0 | 0 | 1 | 1 |
| COFI | 0 | 1 | 0 | 1 | 0 |
| EOS | 0 | 1 | 0 | 1 | 0 |
| LTC | 1 | 1 | 1 | 3 | 0 |
| ONT | 1 | 0 | 1 | 2 | 0 |
| VTC | 0 | 0 | 0 | 0 | 0 |
| ETH | 0 | 0 | 1 | 1 | -1 |
| ICX | 1 | 0 | 2 | 3 | -1 |
| POA | 0 | 0 | 1 | 1 | -1 |
| START | 0 | 0 | 1 | 1 | -1 |
| WAN | 0 | 0 | 1 | 1 | -1 |
| XVG | 0 | 0 | 1 | 1 | -1 |
| BTC | 1 | 0 | 6 | 7 | -5 |
| ZRX | 8 | 0 | 15 | 23 | -7 |
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.