How weekly sentiment analysis picks performed against the market this week

It was another shaky week in the crypto market, and how you did may largely depend on when and if you exited.

This was the first test of my new sentiment analysis system, and I'm pretty optimistic based on what I saw.

Twelve of the top 15 coins in last week's picks were at some point outperforming the market, often by a considerable margin. I'm impressed by this in particular because we're pretty much at the top of the market this week right now.

Of course, if you held, you're feeling the hurt on a lot of those coins. Only $ADA, $OST, $XTL and $PHR finished the week nicely above the market positions. Speaking of, if you're just joining us, here's what this is. I use two indices, the CCI30 and the T&C20, as representations of market performance.

The CCI30 includes Bitcoin, so I use it for a representation of the total market. The T&C20, meanwhile, is based around the alt-market.

I'm already making tweaks to my system. In my monthly picks, published Wednesday on Coininsider, I added a weight for the number of unique influencers each coin is mentioned by.

As I've mentioned on Twitter, I'm in the process of building a website that will host all of my data and give me more ability to add to my analyses and products. Stay tuned for that. In the meantime, keep an eye out for the the weekly picks, which should be out tomorrow or Monday.

The Influencers

Each week, I scrape the social media accounts of 100 of the most prominent crypto traders and influencers. I use this list as the basis for my analysis. You can find the list here.

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 sentiment analysis to see which coins they are mentioning positively, neutrally and which they are mentioning in a negative light.

I also take in data on unique influencers, retweets, favorites, volume and strength of feeling in sentiment.

I calculate power by through a weighted formula that takes into consideration volume, number of unique influencers and sentiment. The higher the score, the better, the lower the worse.

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.