- By Pierre-Alexandre
July 1st, 2019
Here are some of the top and worst crypto performers for the month of June analysed using the Omenics’ Sentscore across different verticals.
June has turned out to be a phenomenal month of 2019 for crypto investors as the market ushered on a new growth trajectory hinting at the beginning of a new bull run. After some hiccups earlier in the month, Bitcoin and the overall cryptocurrency market set itself on northward momentum until last week, where the market entered a correction while moving towards consolidation.
At Omenics, we analyze the crypto market performance using our proprietary Sentscore analysis tool. The Omenics Sentscore analysis provides insights into the performance on top 30 crypto tokens by analysing the market sentiment across five different metrics: news, social, buzz, fundamentals, and technical.
Let us take a look at some of the top crypto market performers using our Sentscore charts.
To begin with, let’s start with the world’s largest cryptocurrency and everyone’s favourite - Bitcoin.
1. Bitcoin Performance for June 2019 Using the Omenics’ Sentscore
The below chart shows the average Sentscore for Bitcoin with respect to its price fluctuations. The price chart indicator shows that Bitcoin moved from over $8500 levels to making its 2019-high of over $13,700 levels. However, in the last week of June, Bitcoin corrected to end the month with over 20% price gains.
As we can see the average BTC Sentscore shows volatility but remains in the “positive” region between 6-7.5 throughout June 2019.
Similarly, the Sentscore buzz around crypto oscillates in accordance with the price movement and remains mostly in the “neutral” zone between 4-6.
The Sentscore social chart shows major volatility throughout the month and stays within the “neutral” zone between 4-6.
2. Sentscore Crypto Performance Analysis Using The “Average Crypto Scores Methodology”
The average scores methodology highlights the overall performance of the cryptocurrency using the highest and lowest average of its monthly scores.
- Highest and Lowest Crypto Performers Using “Sentscore Average”
According to the Omenics’ “Sentscore average” charts, Bitcoin (BTC), Binance Coin (BNB), and Litecoin (LTC) are the top performers. However, among the three, only Bitcoin’s average Sentscore ends the month on a higher note that its start.
Also, Bitcoin’s average Sentscore remains in the “positive” region between 6-7.5 throughout the month while that of BNB and LTC remain in the “neutral” zone.
The crypto tokens with lowest average Sentscore are Qtum (QTUM), OmiseGo (OMG), and Lisk (LSK).
- Highest and Lowest Crypto Performers Using “Sentscore Buzz”
According to the Omenics’ Sentscore Buzz chart, the highest scored cryptocurrencies are Litecoin (LTC), Nano (NANO) and NEM (XEM).
The LTC’s buzz chart oscillates between the “neutral” and the “positive” region throughout June. Similarly, the Nano’s buzz chart oscillates in the “neutral” zone for a majority of the month but ends the month in a “positive” zone. For NEM (XEM) the buzz chart oscillates in the “neutral” zone between 4-6.
The lowest scores for Sentscore Buzz are Bitcoin Cash (BCH), Dogecoin (DOGE) and Ethereum Classic (ETC). The Sentscore Buzz chart of BCH and DOGE oscillate in the “negative” zone between 2.5-4 and that for ETC remain in the “very negative” zone below 2.5.
- Highest and Lowest Crypto Performers Using “Sentscore Social”
The top performers with the highest Sentscore Social Sentiment Score are BCH, NANO and LTC. The Social Sentiment for NANO remains in the “positive” region between 6-7.5, the social sentiment around BCH and LTC remain in the “neutral” zone between 4-6.
The cryptocurrencies with lowest Sentscore Social Sentiment score are ETC, LSK and ICX. The Sentscore social chart for all the three cryptocurrencies oscillates in the “negative” and the “neutral” zone.
3. Sentscore Crypto Performance Analysis Using The “Highest Change Methodology”
The methodology determines the performance of the cryptocurrency considering the highest/lowest fluctuations in the score.
The highest Omenics Sentscore changes were seen for Litecoin (LTC), NEM (XEM), and 0x (ZRX).
Similarly, the highest Omenics’ Sentscore Buzz change was seen for Bitcoin (BTC), EOS, and VeChain (VET).
The highest Omenics Social score change was seen for Ethereum Classic (ETC), Dogecoin (DOGE), and 0x (ZRX) cryptocurrencies.