Peak Hype: Backtesting the impact of social media on cryptocurrencies (Weekly Pro report)

About 9 months ago, we published a study titled ‘Peak Hype: Timing cryptocurrency tops with social media data’, in which we explored the untapped alpha found in day-to-day cryptocurrency chatter.


Given the madness that’s been the crypto market in 2020, we felt like this study warrants a major refresher.


In this 2021 update, we’ll be backtesting two of our most popular social metrics:


  1. 1. Social Trends, and
  2. 2. Weighted Social Sentiment

...and their impact on the short and mid-term performance of hundreds of different cryptocurrencies.


Without further ado:


1. Social Trends


As you may know, Santiments gather a massive amount of information from crypto social media.


On a daily basis, our servers collect and parse tens of thousands of incoming messages from 1000+ social channels dedicated to cryptocurrencies. This includes Telegram groups, crypto subreddits, vetted twitter accounts, professional