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

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Ibis
Feb 6, 2021

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

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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.

Our previous TOP calls:
WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
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