Predicoin Launches New Platform for Crypto Sentiment Analytics

San Francisco-based Predicoin has opened its platform to the public in a bid  provide traders with an early heads-up on market-moving trending topics. Currently in 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 own due diligence, identify influential themes to develop actionable strategies or keep track of specific cryptocurrencies.
Social media channels are often the greatest place for conversations around cryptocurrency due to the large amount 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 variety of professional news into for investors to distinguish between patterns across their respective assets.
The graph below demonstrates the sentiment analysis over a 24 hours period 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, in investment spaces is an application of machine learning 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  for the top 100 cryptocurrencies. The stated goal is to encourage efficiency and transparency for the virtual asset investors within the global marketplace.