Newscrypto.io, this name must start to mean something to you. After having presented it to you here and having opened the column Cryptovision, the technical analysis of a corner every Friday, today we come to present to you their latest tool: a tool for analyzing market sentiment (AI Sentiment Analysis tool). ). The clairvoyants had better watch out!
Warning : This article is brought to you by the company Newcrypto.io. Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an investment incentive..
Machine learning serving the crypto markets
For those who are still unaware of it, the market beyond the news coming to disturb this one, remains built by its actors. Speculators, founders or influencers, we all have our share of responsibility in this one. When a news is judged negative by a majority of people, the market will be more conducive to sale.
Remember that the stock market is manic.
But how do we express our fears or worries today? By sharing them with others whom we hope to be able to comfort us in our positions or to comfort us. It’s no secret, but the data market is a real gold mine. Indeed, when correlated with other indicators (fundamental or technical, for example), they make it possible to try to identify a trend.
And that’s exactly what Newscrypto is trying to do here: identify a trend to allow its users to generate maximum profits.
What is Newscrypto’s AI based on?
Although not all details are public, the fault of a highly competitive industry, we have some answers.
Not surprisingly, social networks and mainly Twitter hold an important place in the algorithm. The case You’re here and Elon, reminds us time and time again that the most influential personalities alone can unbalance the small market that we represent. Like, retweet, number of subscribers, the tweets of each individual are therefore combed through to see the influence on the psychology of the market.
But the strength of machine learning lies in the ability of the algorithm to learn (hence the term learning of course). Thus each new tweet analyzed and correlated with the prices of tokens that it directly or indirectly impacts allowing in the long term an increasingly detailed analysis on the rise or fall that it will generate.
Beyond the tweets, the titles of the news published on the various media are also taken into account to try to determine the sentiment of our preferred market.
And level of results what does it give?
Currently available for 20 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Polkadot and Ripple (XRP), so users can know if the impact will be Outstanding, Very Good, Good, Neutral, Negative, Negative, Nightmare.
“And level of results then ???” yes yes I am coming, impatient that you are.
The company claims that its algorithm has a success rate of between 70 and 90%. This is of course required to increase over time if the model is successful. Thank you machine learning!
He was also able to predict in advance the price of Bitcoin for May 6, 2021 to the nearest $ 10! That is to say an error of the order of 0.02%!
The platform Newscrypto.io continues to develop and offer its users new tools to surf the sometimes raging waves of our ecosystem. If the company’s AI already has many parameters, these will soon support podcast and Youtube video, allowing an ever more precise analysis of the statements of beings in the grip of feelings that we are. Skeptical, interested or just a philosopher, do you want to test the tool for yourself? So go quickly to the site of Newscrypto.io and on the Telegram group of the project.
President and Co-Founder of MinedHack and fervent defender of Blockchain since 2017, I am aware that without an explanation and vision of the industry its adoption will never take place. I hope as a Reporter and Editor of CoinTribune to help with this mission.
The comments and opinions expressed in this article are those of the author alone, and should not be considered as investment advice. Do your own research before making any investment decisions.