Monday, March 4

These Were The Top 5 Coins On Twitter Last Week – And Their Price Dynamics By Cointelegraph

©Reuters. These Were The Top 5 Coins On Twitter Last Week – And Their Price Dynamics

“Crypto Twitter (NYSE:)” is a powerful place. Not only does online discussion follow the ups and downs of digital assets, it can also shape price action. Oftentimes, a spike in attention on Twitter can herald a dramatic rise in an asset’s price. However, in other cases, the order may be reversed, or there may be no relationship between price and Twitter conversations.

To harness the power of Twitter and use it as a tool to generate profits, cryptocurrency traders need two things: The first is the ability to quickly spot spikes in social attention around specific assets, while the second is good judgment to know if the anomaly is really a harbinger of an impending rally. While there are reliable algorithmic tools that cover the first ingredient, such as Cointelegraph Markets Pro’s Unusual Volume Indicator on Twitter, the second requires instinct and experience.

The following examples of assets that showed the largest weekly increase in tweet volume illustrate various scenarios around the relationship between price and conversation on Twitter.

Read the full article on Cointelegraph

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.