How weekly sentiment analysis coin picks performed against the market this week
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When I said it was a gambler's week, I wasn't kidding.
It was another rough week for $BTC, as sentiment showed it might be, which means most alts took at hit at some point or another. This week was about knowing when to hold 'em, and knowing when to fold 'em (if you're a trader, since knowing when to HODL them is HODLing)
If you're new here, each week I rank my sentiment analysis top coins against two indices, the CCI30 and the T&C Altcoin index.
If you sold any of the coins in the top 9 last week at or near their highs, you likely made out pretty well. All nine picks were outperforming the market at some point, which showed a pretty consistent slide.
If you held on, you're likely down considerably. Only $EOS held its head above water of the top picks by close last night.
And then there's $OCN. As I said last week, we were waiting on news about the long-discussed 1:1 airdrop. Well, that happened a few hours after I posted the picks, which led to a complete nosedive in price.
I did an analysis for CoinInsider that shows why there's reason to believe $OCN isn't in as bad of shape as it seems. But it's the chief reason I'm now posting news events alongside the top sentiment picks, because "buy the rumor, sell the news ain't no joke."
Trade safe, folks. As always, here's the data for the chart above:
| coin | open | high | close | high change | close change |
|---|---|---|---|---|---|
| XVG | 0.058205 | 0.0628 | 0.052814 | 7.89% | -9.26% |
| EOS | 14.23 | 15.26 | $13.74 | 7.24% | -3.44% |
| CAZ | 0.0845 | 0.113 | 0.05 | 33.73% | -40.83% |
| ARK | 3.32 | 4 | $3.04 | 20.48% | -8.43% |
| SS | 0.090373 | 0.090373 | 0.06612 | 0.00% | -26.84% |
| ZIL | 0.177429 | 0.18027 | 0.146164 | 1.60% | -17.62% |
| ZRX | 1.65 | 1.8 | $1.46 | 9.09% | -11.52% |
| ICX | 3.94 | 4.18 | 3.52 | 6.09% | -10.66% |
| OCN | 0.03789 | 0.042378 | 0.016965 | 11.84% | -55.23% |
| CCI30 | 9438 | 9438 | 8,703.17 | 0.00% | -7.79% |
| T&C | 7342 | 7938 | 6923 | 8.12% | -5.71% |
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.