New services for sentiment analysis in the crypto market

[Paha87]

The field of sentiment analysis has developed rapidly in the stock market, the developers Predicoin and Augmento sure that made a breakthrough for capturadora.

Assessing the current sentiment towards a particular cryptocurrency may seem trivial compared to more conventional valuation methods, but it has its place. Understanding the market sentiment will not indicate a better place to enter or exit for trading, but as a broader indicator of what is happening in the market the indicator is extremely effective.

Crypto traders will long remember the euphoria that accompanied bitcoin's take-off last December, and looking back, many admit that this sentiment was an indicator that indicated that it was time to sell. In most cases, sentiment analysis relies on more subtle and scattered signals, so it is a task that algorithms do better than humans do.



* sentiment analysis for bitcoin by Augmento based on two selected emotions

The Augmento service, which handles hundreds of thousands of data points, is a product of the Berlin team. Currently in the closed beta, the platform uses AI to help identify trends and analyze sentiment that reigns in the crypto market.

"Crypto is crowd psychology on steroids," says Augmento CEO Michael Baumgartner. He sees Augmento at the forefront of "a new generation of AI systems capable of capturing the mood and topics of discussion of millions of users in real time."

The range of emotions that can be collected and analyzed for a particular currency is vast. Traders who want to benefit from the bitcoin market can filter sentiment such as bearish statements, fear of missing out on profits (FOMO), panic (FUD), and happy statements. The idea is that traders can use signals as a counter-indicator to determine when the market is overheated and when it is depressed and respond accordingly.

Augmento is currently attracting most of the sentiment signals with Reddit, but the company is in the process of adding other crypto community communication locations such as Telegram and Twitter. The company's service also includes an API for accessing hedge funds. The authors of the service claim that "Augmento is able to distinguish more than 100 emotions and discussions related to the price of cryptocurrency".

Predicoin " promises advanced sentiment analysis»
Predicoin is another sentiment analysis platform that will be launched soon. It extracts data from the media, Twitter, Reddit, Facebook, Youtube faster and uses data mining and machine learning to analyze news and social media content, saving time and energy of investors.

Alexandra Picard, founder of Predicoin service, explains:

The crypto market is growing exponentially, and traders and investors are finding it increasingly difficult to overcome noisy online chatter and highlight quality information. Using sentiment analysis, Predicoin's crypto-Analytics platform helps traders and enthusiasts access and interpret cryptocurrency-related information to make better decisions.

Like Augmento, Predicoin is currently in beta. As the market Matures, augmento's Michael Baumgartner sees the popularity of sentiment analysis grow. "Sentiment analysis is crucial when it comes to understanding crowd psychology and market cycles," says Mr. Baumgartner. "We believe that if done correctly, it is one of the most powerful predictors of cryptocurrency prices."

Link to information resource - https://altstake.io/news/novye-servisy-dlya-analiza-nastroeniy-na-kriptorynke

[DanielMidy]

This morning, the BTC coin price pulled up slightly in the vicinity of the last $6,370, and now reported $636.27, an increase of 1.03%. The mainstream currencies generally rose slightly.
1. The total market value of the global digital currency market was US$1974.41 billion, and the 24h volume was US$10.958 billion.
2. The current global average price of BTC is 6,391.44 US dollars. Among the three major exchanges, the price on the fire currency is 6,361.27 US dollars, the price on OKEx is 6539.35 US dollars, and the price on the currency is 6361.70 US dollars.
3. According to the "Currency World" market, other mainstream currencies are as follows: BCH temporarily reported $474.51 (-0.12%), ETC price temporarily reported $11.45 (-2.50%), ETH temporarily reported $196.03 (+0.52%), LTC The interim report was US$54.19 (-0.03%) and the EOS was temporarily reported at US$5.05 (+0.25%).
4. The top 100 currencies in the market capitalization are different. The top three gains were WAVES (+35.56%), BCD (+23.62%), and DROP (+19.64%). The top three declines were RHOC (-9.82%), HOT (-9.42%), and GAS (-5.10%).
5. According to the "Coin World" market, the concept sector fell more and less. The top three gains were: smart economy (+7.07%), hardware and mining machine (+4.35%), virtual reality (+4.18%); the top three declines were: task crowdsourcing (-12.49%), time trading (-3.60) %), market forecast (-1.50%).