Thomson Reuters has expanded its sentiment data tracking service to cover the top 100 cryptocurrencies. You can find details about the TRMI 3.1 crypto sentiment package in our daily rubric, Bitcoin in Brief. Today’s edition also features other announcements crypto investors may find interesting. Some useful tools can help them develop dynamic strategies on the volatile markets, while a new bot offers automated crypto trading.
Thomson Reuters Expands Its Crypto Sentiment Data Tracking
Thomson Reuters has included market data for the top 100 cryptocurrencies in its sentiment data offerings. The service is provided in cooperation with Marketpsych Data LLC, a leader in quantitative behavioral science. The expansion comes after the introduction of bitcoin sentiment index in March, when Marketpsych 3.0 was revealed, as news.Bitcoin.com reported, and the launch of cryptocurrency real-time rates data feed for six cryptocurrencies in May.
According to the official announcement, the new Marketpsych Indices package uses machine learning and natural language processing to measure emotional and topical items across news and social media sites that may drive market participant behavior in cryptocurrency markets. TRMI 3.1 monitors more than 2,000 global news and 800 social media platforms in real-time.
The providers of the service also note that the historical data dates back to 2009. The collected sentiment data can be incorporated into quantitative and qualitative analysis to support investment decisions, the press release details. Investors and other interested professionals can use it to quickly discern patterns affecting their respective businesses, Thomson Reuters points out.
Suite of Tools for Crypto Investors Released
Waterstreet Research Partners LLC, a Minneapolis-based investment research firm, has announced the launch of Crypto Powerranks, a suite of useful tools for cryptocurrency investors. Its users will be able to research, plan, and develop dynamic investment strategies on the volatile cryptocurrency markets, according to the announcement.
Crypto Powerranks is a membership program that provides access to institution-level analytics and portfolio construction strategies. The service will enable cryptocurrency investors to create their own investment plans. The developers of the suite note that their solution comes in response to the need to use robust research tools in combination with market intelligence when making investment decisions.
The service introduces 32 cryptocurrency indices, including 12 that use quantitative factor models known as smart beta. These proven index strategies have not been applied to the cryptocurrency market before. The platform also provides its members with continually updated tools, indicators, and reports, including index action reports. By applying the tools to the different indices, they will be able to research a single cryptocurrency or the broader market, when deciding which coins to choose for their investment portfolio.
“More and more investors are entering the crypto market and have expressed a clear need for more insight, intelligence, and tools, so they can make better informed decisions,” said Jonathan Held, managing partner and cofounder of Waterstreet. In his words, crypto investors are tired of biased and emotional opinions in blogs and video channels. “They want clear, objective insights to help them understand the evolving market and make investment choices with confidence,” Held added.
New Bot Automates Cryptocurrency Transactions
A new trading bot, designed to automate cryptocurrency purchases and sales, has been launched by Millioncoin. The platform, which offers crypto-related services, promises to counter the high costs and inconvenience of transacting in digital coins. The bot, named AT.systems, provides its users with resources in real time, which help them profit from trading these cryptocurrencies.
According to the developers, price instability, high transaction fees, and uncertainty about the relative value of different digital and fiat currencies represent barriers to buying, trading, and spending cryptocurrencies. Millioncoin is trying to address these issues by automating the respective processes.
The bot offered by the company can automatically trade cryptocurrencies to provide its users with the best possible deal for their assets. Combined with other tools, AT.systems can also enhance crypto shopping. This, according to Millioncoin, will help consumers incorporate cryptos in their everyday lives.