On March 12, the Canadian multinational information firm Thomson Reuters established what crypto investors have been dreaming of. And that’s a novel BTC data feed, which can help investors to learn about changing attitudes within global society concerning cryptos.
As it is known, investors often rely on the atmosphere in the society concerning securities, commodities, real estate and so on before they pile into it. Cryptos have been known as volatile assets, so it was kind of complicated to determine what traders will do next.
Now, crypto investors have got a chance to trace people’s sentiments regarding BTC.
How Will Bitcoin Data Feed Work?
Thomson Reuters included this system into the recent publication of its MarketPsych Indices product. According to it, bitcoin sentiment data feed is going to employ artificial intellect (AI) to analyze over 400 sources to data.
Also, AI will assist in looking through publications in media as well as social networks posts to find out about people’s feelings concerning bitcoin.
With the new data analysis system, both professional and amateur investors will be able to spot the best opportunities for investments. In particular, that will be thanks to such metrics as:
What Can it Be Used For?
According to the words of the global head of the media and information giant Austin Burkett, the new data feed is going to be helpful because:
- It will help Thomson Reuters clients to generate alpha.
- Thanks to it customers are going to get positive investment returns.
- It will assist people in balancing the risk in their investment portfolios.
Is It New?
Even before the launch of this AI system, Thomson Reuters had been tracing bitcoin prices. Additionally, in 2017, for example, it made efforts to use blockchain-based apps widely. However, the official stepping into the world of crypto traders the firm made this week.