The Tie Uses Sentiment Analysis to Gauge the Mood of the Markets
Predicting which way the crypto markets will move next is an art that even the most experienced chart-gazers struggle to master. Gaining an edge over your fellow traders calls for seeking out signals that the rest of the pack aren’t already monitoring. The Tie’s sentiment analysis service is one such weapon which, when used intelligently, can improve the accuracy of your investment decisions.
Also read: Crypto Rocket Lets You Track Over 2,000 Cryptocurrencies
The Tie Taps Into the Current Market Mood
The Tie is an all-in-one crypto trading platform, but it’s best known for its sentiment analysis (SA). The pricing, technical, onchain data, and portfolio management services it provides, while capable, can be found on a plethora of competing platforms. SA is where The Tie comes into its own. The site provides an insight into the current performance of leading crypto assets, with a particular focus on social media sentiment. This can sometimes be used as an indicator of an impending price move, or at least so the theory goes.
For bitcoin cash (BCH), The Tie currently rates the asset’s sentiment to be 58% positive, and provides one-hour price projections whose upper and lower limits sit $7 apart. A string of other metrics include daily sentiment momentum, tweet dominance, relative tweet volume, and unique data sources. An ‘i’ symbol next to each of these metrics explains their purpose in greater detail. For traders who prefer the cold hard stats of onchain data compared to the fuzziness of sentiment analysis, The Tie also records stats such as total BCH network fees over the last 24 hours (0.5 BCH) and number of active addresses for the same period (35,167).
Another Trading Tool to Add to Your Arsenal
In addition to analyzing individual coins in depth, The Tie provides a holistic view of the cryptoconomy via its Sentiment Tilted Index and Equally Weighted Index. The former rates the top 20 market capitalization crypto assets, rebalanced daily based on daily sentiment.
For a more conventional tracker of current prices and market valuations of cryptocurrencies, Bitcoin.com Markets has got you covered. The platform, available in English, Russian, Chinese, and Korean, allows you to pick your favorite digital coins and calculate their price in a number of crypto and fiat currencies.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.comis not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.
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The post The Tie Uses Sentiment Analysis to Gauge the Mood of the Markets appeared first on Bitcoin News.
Bitcoin Newshttp://bit.ly/2FUbkJa April 22, 2019 at 04:25AM @BruceDayne, @Kai Sedgwick April 22, 2019 at 04:59AM