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. Social Trends, and
- 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
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Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
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