Predicoin Launches New Platform for Crypto Sentiment Analytics

San Francisco-based Predicoin has opened its crypto sentiment analysis platform to the public in a bid to provide traders with an early heads-up on market-moving trending topics. Currently, in the open beta phase, the platform uses AI to pull in data from Medium, Twitter, Reddit, Facebook, Youtube, and Telegram to aid with trend detection and sentiment analysis.

Predicoin not only leverages AI to analyze news and social media content but also provides users with a set of indicators to do their due diligence, identify influential themes to develop actionable strategies or keep track of specific Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Social media channels are often the greatest place for conversations around cryptocurrency due to a large number of crypto accounts, news, and opinion generated by influencers of this space.

Crypto sentiment weaponry

To help identify the predictive value in the new chatter-tracking suite, Predicoin team, powered by expertise in data mining, has developed a new range of sentiment indicators and social insights. The product tracks millions of data points and converts a variety of professional news into quantitative analysis for investors to distinguish between patterns across their respective assets.

The graph below demonstrates the sentiment analysis over 24 hours for the 30 cryptocurrencies tracked by Predicoin:

Due to the immense amount of social media contents, the capabilities of sentiment analysis can be used to create buy and sell signals for a crypto asset, which will anticipate price movement by comparing current sentiment with historic averages.

Generally speaking, sentiment analysis in investment spaces is an application of Machine Learning Machine Learning Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Machine learning is defined as an application of artificial intelligence (AI) that looks to automatically learn and improve from experience without being explicitly programmed. Machine learning is a rapidly growing field that also focuses on the development of computer programs that can access data and use it learn for themselves.This has many potential benefits for most industries and sectors, including the financial services industry. Machine Learning ExplainedMachine learning can be explained Read this Term where quantitative traders can capitalize on social media influence through monitoring the overall volume of relevant news and the mix of positive, negative and neutral comments.

Earlier this year, Thomson Reuters launched a new version of its MarketPsych Indices (TRMI) to include market sentiment data for the top 100 cryptocurrencies. The stated goal is to encourage efficiency and transparency for the virtual asset investors within the global marketplace.