BTC $3233.95 -0.16%
XRP $0.284836 -1.22%
ETH $84.46 0.13%
show
show
Digital Economy:
What will the global market get

New research tool to analyze 400 crypto websites’ sentiment

13 March 2018 00:00, UTC   |    278
New research tool to analyze 400 crypto websites’ sentiment

As suggested by some media outlets, big data and Internet monitoring helped Donald Trump to gain popularity in the first place. Modern monitoring technologies are already able to capture the sentiment of a targeted social group. Clearly having all this in mind, researchers from Thomson Reuters and MarketPsych are now developing a special tool called MarketPsych Indices which will analyze the data of 400 cryptocurrency-related websites and compose stats that will show the latest hot topics and possibly the overall market sentiment.

The users of this system will be able to understand the market much better than usual analysts simply due to the fact that a machine can process 400 websites a day which is not necessarily achievable for any human being. The old “helicopter view” strategy concept is also applicable here: potentially, this new analytical framework will be able to perceive trends before they become obvious for everybody. The press release also mentions the analysis of historical data which might be useful to learn on mistakes of other cryptocurrency-related companies.

14.12.2017  |   in News

The possible downside of this system is that it might help some corporate players to manipulate the market. Quite probably, it will not be cheap. This means that amateur investors will lose competitiveness to those who possess this instrument or programs similar to the one described above.

Image courtesy of hasunkhan / DeviantArt



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
RECENTLY PUBLISHED
Report a mistake