Launch of Virtual Currency Emotional Analysis Services through Collecting Trading Information and etc. on Twitter

The cryptocurrency analysis firm, Coin Metrics--which is funded by Barclays in the UK, announced the launch of real-time emotional analysis service in the cryptocurrency market to start a new service for the institutional investors.

Coin Metrics is also said to be partnering with Social Market Analytics (SMA) from the United States, which interprets data on social media for real-time emotional analysis services.

SMA, the project's affiliate, is a company expert in emotional analysis as well as a self-analysis data provider. Many companies already received information service from SMA, including Fidelity, a company that participated in the investment of Coin Metrics this time.

Although there has been no accurate analysis of emotions in the cryptocurrency industry so far, information generated by many communities such as instant responses posted on various social networks, like Twitter from cryptocurrency traders, and the rate of increase in related keywords will likely be used as important analytical data in providing deeper emotional analysis and establishing trading strategies.

Coin Metrics CEO, Tim Rice says institutional investors are demanding data from trusted information providers because it is hard to say that cryptocurrency are still maturing as an investment target.

The institutional investors explained that they set strategies based on data that fits the investment they have conducted so far,adding “it is natural that they cannot inject funds in a situation where there is no basis for investment. Hence, such emotional analysis among the traders and the general consensus will be important information for institutional investors in the future.”

Reporter Jenny Lee (news@dailycoinews.com)의 기사 더 보기

- Daily Coin News prioritizes the voice from the scene over others(news@dailycoinews.com) -

- 기사에 사용된 모든 자료에 대한 책임은 작성자 본인에게 있습니다 -

[copyrightⓒ 2018 All rights reserved by Daily Coin News]

Bitcoin price when registering article
BTC-USD : $ 10,841.93 USD (API by Bitfinex)

2 0 Write