[2018-03-12] Thomson Reuters Is Using Your Feelings About Bitcoin to Make Invest

[Giftcoins]

How does the world feel about cryptocurrency?

Announced Monday, media giant Thomson Reuters has launched a new bitcoin data feed designed to make it easier for investors know that very answer.

Included in the latest release of the company's MarketPsych Indices product, a suite of investment tools analyzing everything from companies to sovereign bonds, the bitcoin sentiment data feed will use AI to analyze more than 400 sources of data, scouring news articles and social media posts in search of actionable insights.

Using metrics such as "greed" and "fear" both accredited an non-accredited investors can identify hedging opportunities or create buy-sell orders when a particular trait reaches a certain level or changes over a certain period of time.

And while Thomson Reuters has long tracked bitcoin prices, and last year made a push into applications of blockchain technology broadly, this week's launch marks the firm's formal entrance into products made specifically for cryptocurrency traders.

https://www.coindesk.com/thomson-reuters-using-feelings-bitcoin-make-investors-rich/

[DooMAD]

It's not like we need yet more stuff to encourage the speculators.  They have more than enough widgets and gewgaws to play with already.  Plus, I'm sure the experienced traders would argue that if you can't read and analyse a chart properly, you shouldn't be trading anyway, or at least that's what they would argue that if they weren't too busy profiting immensely from the mistakes of inexperienced traders.  I mean, sure, someone is going to get rich from all this, but it probably isn't going to be the average naive newbie signing up for this thing.  All this data feed will do is lure more fresh meat into the grinder.  It's probably also a handy earner for Thomson Reuters too, since they aren't giving it away for free.  Let's be honest, if the info was actually worth anything, they'd be using it themselves to trade.

But what would really be helpful is to focus on the fact that crypto isn't about "getting rich".  It should be about complete and total freedom from the broken traditional finance sector.  But what people seem hell bent on turning it into is yet another inane casino to make bets in.  As if we didn't have enough of that already with the derivatives market.

In short, this isn't news.  Call me cynical, but it looks like it's just another corporate entity trying to make a quick buck without doing anything to contribute to the advancement of the technology they're trying to exploit.

[xdrpx]

It's good to see a new indice to measure market sentiments. I remember (And the article also speaks about) the Fear and Greed index by CNN Fast money which is based on a volatiltiy measurement unit called VIX (Volatility Index] which is inversely proportional with the price of Bitcoin. Considring that MarketPsych brings in AI, it can easily collect information from various social media and news websites, peoples conversations and also Government policies to derive an investment buy or sell indicator. MarketPsych is a great tool for Research analysts and portfolio managers to track market movements and to identify price drivers for an asset. Also similar to the Fear and Green index this index makes use of a very nice methodology of using BI and dashboards (heat maps) to track political unrest and fear in countries and to give investors better advise.