Sentiment reversal: $BTC, majors break positive trend line in place since early April

in cryptocurrency •  last year 

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Not a lot of good news in the markets today.

Even less encouraging is this: For the first time in about a month and a half, sentiment on the major currencies broke a trend line that had been in place and helped buoy the alt market for the better part of April and early May.

Sentiment on $BTC, $ETH, $LTC and $BCH fell to -22, cruising through the bottom sentiment level during that period by about a dozen points. Surveying the social media activity of the 40 influencers and traders I follow, I can't find much short-term or medium-term optimism.

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Call it the Consensus thump. Here's all the bloody data for the day. Trade safe, folks.

CoinPositiveNeutralNegativeTotal MentionsPower
BTC021315-13
ETH1157-4
LTC0033-3
BCH0022-2
ALTS51586411.5

The Influencers

@MagicPoopCannon@CarpeNoctum@CryptoChoe
@Crypto_Ed_NL@Panama_TJ@CryptoDonAlt
@CryptoHornHairs@CryptoYoda1338@Pacoiin
@cryptoSqueeze@CryptoGat@CryptoTutor
@Haejin_Crypto@Anbessa100@davidgokhshtein
@Crypto_Rand@Crypto_Capone@Socal_Crypto
@CryptoCred@whatbitcoindid@BigCheds
@VentureCoinist@BigChonis@RektCapital
@tehMoonwalker@notsofast@CryptOrca
@TheCryptoMonk@TheBlond82@CryptoWildWest
@HonestlyCrypto@crypto_birb@JewKorean
@cryptostaker@cryptomocho@cryptocobain
@CryptoTutor@CryptoMichNL@CryptoBulld0g

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.

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Thanks for the info!