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

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.

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Thanks for the info!