All this data is just a lagging indicator. If you were around those Reddit posts back in Dec 2018 when we hit $3100 people were saying that BTC will hit 3 digits sometime in the next few months. Same with the June 2019 bull market, people were saying that it will hit a New ATH before it goes to $100K
Right now people are saying we will hit $5000. And there was a slight rally since then. So based on this data you can't really trade off it because people start complaining about BTC after it falls and people praise BTC after it rallies, so unless you got some time machine it's useless reading those posts.
That's why you need to learn to trade on your own. Because that way you can't blame other people for your losses.
You are right, in many cases it is laggin. I think we should take a statistical perspective though. How many times does it need to be right for you to make profits?
For example this backtest from yesterday is based on the same data input
https://i.imgur.com/823IHWy.pngI assume you don't trust other people's backtest... If so, download the sentiment scripts I used, check & control the parameters yourself:https://github.com/augmento-ai/quant-reseach
(scripts are in th folder called examples. you need to run them in the order of the numbers from 0 to 4)
