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Reuters Launches the First Cryptocurrency Feed

Thomson Reuters, in partnership with MarketPsych Data LLC, has launched a new version of its MarketPsych indices which includes its first sentiment feed to Bitcoin

How many times is the word cryptocurrencies entered in the Google search bar? What do people write about cryptocurrencies in online forums? Reuters will know and will tell us. The news agency giant Thomson Reuters today announced the launch of a new version of its MarketPysch index with the aim of capturing the sentiment and create a cryptocurrency feed .

Because where there are emotions, there are cycles and where you understand cycles,  you can make profits. And Reuters knows this: through its MarketPsych index, created with the company specialized in behavioral research MarketPsych Data LLC, it constantly scans news from the media, analyzes it to extrapolate a meaning that communicates in numbers to the investor so that he can make decisions in time real.

The new version of MarketPsych v3.0 will analyze over 2,000 news stories and 800 social media, most specialized in cryptocurrencies, to capture recurring feelings and themes, as reported in a note. TRMI v3.0 will also include broader coverage of the sentiment of fixed income securities and national equity indices for the first 61 global economies and the Eurozone.

“The more complex the financial market, the greater the need to provide our customers with not only relevant data, but also the tools to help them manage and analyze such data. MarketPsych 3.0 will provide another level of analysis in the investment process, “said Austin Burkett, Global Head of Quant and Feeds at Thomson Reuters.

SOCIAL MEDIA VS FINANCE

The information changes the way investors make transactions. If fear hovers in social platforms then traders are cautious and, as a result, prices will be vulnerable to short-term sell-offs. Unlike positive news that takes more time to invade investor consciousness, driving the long-term price momentum. The indices show the perceptions, concerns and concerns of market participants, which inevitably influence prices. “News and social media are driving the investment and risk management process more than ever at this time with the continued increase in passive and quantized trading,” Burkett said.

The boom in cryptocurrency prices in recent years has stimulated an intense online activity where people exchange trading ideas in forums and spread news about the latest developments in the industry on websites. Many analysts have linked online activities to the price of the best-known cryptocurrency. Bitcoin has in fact gained over 1,300% last year with an increase in investors, but since the peak in December, reaching $ 20,000, it has lost more than half its value. From now on Reuters will think to direct the crypto-traders with its compass MarketPsych v3.0 ready to capture every little click

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  1. Pingback: Reuters Launches the First Cryptocurrency Feed - Ripple XRP News and Guide

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