{"id":366085,"date":"2021-11-12T17:42:13","date_gmt":"2021-11-12T14:42:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/"},"modified":"2021-11-12T17:42:13","modified_gmt":"2021-11-12T14:42:13","slug":"how-traders-can-use-twitter-to-anticipate-altcoin-price-moves","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/","title":{"rendered":"# How traders can use Twitter to anticipate altcoin price moves"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9d07c56bf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9d07c56bf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#Heads-up_from_the_crowd\" >Heads-up from the crowd<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#LRCUSD_A_74444_increase_in_tweet_volume_followed_by_a_35079_monthly_price_change\" >LRC\/USD: A 744.44% increase in tweet volume followed by a +350.79% monthly price change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#NUUSD_A_59887_increase_in_tweet_volume_triggered_a_17918_monthly_price_change\" >NU\/USD: A 598.87% increase in tweet volume triggered a +179.18% monthly price change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#ENJUSD_A_35432_surge_in_tweet_volume_accompanied_a_9035_monthly_price_change\" >ENJ\/USD: A 354.32% surge in tweet volume accompanied a +90.35% monthly price change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#ANKRUSD_A_32908_surge_in_tweet_volume_backed_a_3951_monthly_price_change\" >ANKR\/USD: A 329.08% surge in tweet volume backed a +39.51% monthly price change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/how-traders-can-use-twitter-to-anticipate-altcoin-price-moves\/#SANDUSD_A_32812_increase_in_tweet_volume_was_followed_by_a_22212_monthly_price_change\" >SAND\/USD: A 328.12% increase in tweet volume was followed by a +222.12% monthly price change<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># How traders can use <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> to anticipate altcoin price moves <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>When crypto traders win big, they often take to Twitter to share the joy. They tend to do the same for sharing painful stories of getting wrecked, discussing promising new assets, or sharing insight and predictions on which projects can become the next big thing. Sometimes these waves of social attention can even create positive feedback loops whereby the tokens that command the chatter see their prices soar precisely for that reason.<\/p>\n<p>The volume of tweets referencing a particular asset can indicate a lot of different things. This month, the five tokens that saw the greatest month-to-month increases in daily tweet volume \u2014 Loopring\u2019s LRC, NuCypher\u2019s NU, Enjin Coin (ENJ), ANKR and The Sandbox\u2019s (SAND) \u2014 also saw some of the heftiest monthly gains. This in itself is not at all shocking, as the assets that see huge rallies tend to attract the Twitter crowd\u2019s attention.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/0d9dd9e3-535d-420b-8fe6-5afd6c956a8a.png\"><figcaption style=\"text-align: center;\">Volume of tweets mentioning LRC, NU, ENJ, ANKR and SAND, Oct. 9 \u2013 Nov. 9. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/vision.thetie.io\/\">The TIE<\/a><\/figcaption><\/figure>\n<p>What is remarkable, however, is that in all five cases, the record-breaking tweet volume peaks were actually registered not <em>in response to <\/em>monthly price highs but <em>ahead of them<\/em>. In other words, the sprawling Twitter conversations around these coins anticipated price action rather than followed it. How could traders catch the signs of this extraordinary social activity early?<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Heads-up_from_the_crowd\"><\/span>Heads-up from the crowd<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you do not follow just about everyone on Crypto Twitter, there are few ways to reliably capture each surge in tweets around a particular asset. Subscribers of Markets Pro, Cointelegraph\u2019s proprietary data intelligence platform, have it easy: A dedicated panel featuring five assets that are seeing an unusually high tweet volume is helpfully displayed in real time right on the dashboard.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/606fd04a-1259-4f8e-b315-3315f602df88.png\"><figcaption style=\"text-align: center;\">CT Markets Pro Unusual Twitter Volume panel, Nov. 11. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>Furthermore, tweet volume is one of several metrics used to calculate the VORTECS\u2122 Score, an algorithmic indicator that compares patterns of past market and social activity around a digital asset with years\u2019 worth of historical data performance to evaluate how bullish the coin\u2019s outlook is.<\/p>\n<p>In the case of the top Twitter darlings of the month, a look at raw Twitter data would be sufficient, as all of these coins <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared on the Unusual Twitter Volume panel as their tweet volume peaked.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"LRCUSD_A_74444_increase_in_tweet_volume_followed_by_a_35079_monthly_price_change\"><\/span>LRC\/USD: A 744.44% increase in tweet volume followed by a +350.79% monthly price change<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>One of the ingredients of the monstrous rally of LRC this month is the fact that the layer-two protocol continues to offer lower transaction fees compared with its counterparts, which comes in handy amid exorbitant gas fees on the Ethereum network.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/5a381928-5b55-4aae-81e9-d24b0ed261ff.png\"><figcaption style=\"text-align: center;\">LRC price vs. VORTECS\u2122 Score (yellow\/green), Oct. 8 \u2013 Nov. 8. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>Having surpassed 3,000, the volume of daily tweets mentioning the project exceeded the monthly average by more than 740% on Nov. 3 (the red circle in the chart) as the asset was nearing the local price peak at $1.54. After a brief correction, fueled by the influx of social attention, LRC continued to climb even higher, breaching $2 six days later.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"NUUSD_A_59887_increase_in_tweet_volume_triggered_a_17918_monthly_price_change\"><\/span>NU\/USD: A 598.87% increase in tweet volume triggered a +179.18% monthly price change<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Nobody knows for sure where NU\u2019s 10x-plus pump on Oct. 15 came from, but it saw the coin pop from around $0.30 to above $3 in just a few hours. Some Twitter users credited its listing on South Korean exchange Upbit for the uptick, yet chances are there could have been something else at play. Most likely, people were simply trying to figure out what was going on.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/c3b47218-9b79-4ec2-ba78-588d7c6feae3.png\"><figcaption style=\"text-align: center;\">NU price vs. VORTECS\u2122 Score (yellow\/green), Oct. 8 \u2013 Nov. 8. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>At any rate, the Unusual Twitter Volume indicator began to flash just two hours into the rally, with the highest rate showing up shortly before the price high of $3.17. Interestingly, social excitement around NU persisted for some time after the hard price correction, beginning to wane only a day after the price crumbled back to around $1.20.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"ENJUSD_A_35432_surge_in_tweet_volume_accompanied_a_9035_monthly_price_change\"><\/span>ENJ\/USD: A 354.32% surge in tweet volume accompanied a +90.35% monthly price change<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Enjin Coin emerged as one of the beneficiaries of the metaverse tokens\u2019 spree triggered by Facebook\u2019s rebrand to Meta at the end of October.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/c9473d84-cee8-4481-b68a-6f150e476568.png\"><figcaption style=\"text-align: center;\">ENJ price vs. VORTECS\u2122 Score (yellow\/green), Oct. 8 \u2013 Nov. 8. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>The Twitter discussion around blockchain gaming platform Enjin reached its height on Oct. 31 against a price of $2.51 as ENJ was cooling off after a parabolic rally. The onslaught of Twitter mentions foreshadowed the next leg of the action, which took the coin to the next high at $3.45.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"ANKRUSD_A_32908_surge_in_tweet_volume_backed_a_3951_monthly_price_change\"><\/span>ANKR\/USD: A 329.08% surge in tweet volume backed a +39.51% monthly price change<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>ANKR had a massive showing around the same time as metaverse assets skyrocketed, rising from $0.081 on Oct. 28 to $0.139 a week later.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/0cb2ab65-f184-4b5f-8744-6bf0e2486204.png\"><figcaption style=\"text-align: center;\">ANKR price vs. VORTECS\u2122 Score (yellow\/green), Oct. 8 \u2013 Nov. 8. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>As the token\u2019s price briefly plateaued for a breather amid the hike, the Twitter numbers went into overdrive, hitting 2,400 daily mentions. After that, the token\u2019s price made one more leap to the monthly high registered on Nov. 3.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SANDUSD_A_32812_increase_in_tweet_volume_was_followed_by_a_22212_monthly_price_change\"><\/span>SAND\/USD: A 328.12% increase in tweet volume was followed by a +222.12% monthly price change<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Sandbox was yet another metaverse wonder whose token price skyrocketed following the Facebook\/Meta <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/ef49e1d6-9110-487d-966f-85c6c97bd765.png\"><figcaption style=\"text-align: center;\">SAND price vs. VORTECS\u2122 Score (yellow\/green), Oct. 8 \u2013 Nov. 8. Source: Cointelegraph Markets Pro<\/figcaption><\/figure>\n<p>SAND\u2019s healthy social outlook manifested when its daily tweet volume more than <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>led compared with the month-to-month average, hitting a record high above 2,600 15 hours before a peak price of $3.38 was recorded.<\/p>\n<p>Granted, the abnormal volume of tweets mentioning a certain asset is not in itself a recipe for an imminent price hike. Traders should delve into the actual context of what is going on around the token to render an informed decision. Yet, being alerted to massive spikes of attention to particular assets can be incredibly useful for focusing one\u2019s analysis on the most likely candidates for a continued rally.<\/p>\n<p><em>Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.<\/em><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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They tend to do the same for sharing painful stories of getting wrecked, discussing promising new assets, or sharing insight and predictions on which projects can become the next&#8230;<\/p>\n","protected":false},"author":1,"featured_media":366086,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNjVmZDMwNTktMjMxYy00MTJjLTljYzUtYjM0Y2I0ZDg2NGRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74863,74939,105688,75164,73785,71407,10401],"class_list":["post-366085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-cryptocurrencies","tag-market-analysis","tag-markets-pro","tag-price-analysis","tag-markets","tag-trading","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=366085"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/366086"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=366085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=366085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=366085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}