Thomson Reuters Corp has announced the launch of a gauge tracking the sentiment of cryptocurrency traders. The metric will track and examine discourse regarding bitcoin on hundreds of major social media websites and news outlets in order to estimate the majority sentiment of the bitcoin and cryptocurrency markets.
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Thomson Reuters Reveals Marketpsych 3.0
Thomson Reuters Corp in partnership with Marketpsych Data LLC has the launch of a new version of their Marketpsych Indices sentiment data feed, which now includes analysis of bitcoin market sentiment.
The new version, Marketpsych 3.0, has seen “Over 400 news and social media sites, many specific to cryptocurrencies” added to the software’s feed. Thomson Reuters claims that “Each site is scanned and scored in true-time” in order to ascertain “market-moving sentiments and themes.”
Austin Burkett, the global head of Thomson Reuters’ Quant and Feeds, has stated “News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading,” adding that “As the financial marketplace rises in complexity, so too does the need to provide our clients with not only the relevant data, but the tools to help them manage and analyze that data. MarketPsych 3.0 helps deliver another layer of analysis and value-add in the investing process.”
Thomson Reuters Introduces Cryptocurrency Services
Thomson Reuters provides insights into traditional and emerging asset classes, with the company currently publishing “prices for bitcoin, Ethereum, Litecoin, Ripple and bitcoin Cash.” , Thomson Reuters introduced BlockOne IQ – a tool designed to allow traders to use Reuters’ market data systems to analyze blockchain-based currencies.
The announcement of Marketpsych 3.0 comes a week after Fundstrat executive Tom Lee revealed a new bitcoin sentiment gauge called the “.” Mr. Lee unveiled the index during an interview with , proclaiming that the index currently reads at 18.8 – the lowest it has been since 2011.
Mr. Lee described the index as a contrarian indicator, stating that “The last four times this was below 27 […] there was not a single instance with bitcoin not up 12 months later.”
Do you think that sentiment gauges are a useful trading tool? Share your thoughts in the comments section below!
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At bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
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ETHLend Update
For most of the modern economy, credit scoring was nonexistent. Banks used to decide whether to fund a loan based on recommendations from the loan officers. Of course this highly centralized method created multiple bias and created human errors along the way.
The lending ecosystem changed in the 70’s when credit scoring grew in popularity until it reached it’s modern iteration, known as FICO scoring, which is based on credit files from Equifax, Experian and TransUnion. Those three players all tend to look at risk in the same way, as they are all US-oriented and uses US-oriented methodologies on countries with differing characteristics, they often miss the point and lack cultural understanding. As Andrew Fight would say: “Not only do they exercise a monopoly, they tend to use perspective and methodologies which lend themselves to the accusation of being ethnocentric, not to mention ineffective”.
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The blockchain technology provides lots of opportunities to upgrade everyday life. One of the spheres that can significantly benefit from the new technology is traditional financial tools. , that has already gained lots of attention for re-thinking the lending process, is a perfect example of a game changer.
is a product of Gluwa and Aella Credit partnership. These two companies have united their efforts in order to create trustworthy cryptocurrency lending market. The system is supported by the CRE token. $10M has already been raised – while the funding cap is set to $30M.
The story of Creditcoin begins on two different continents: North America and Africa. is a San Francisco-based company which created a bitcoin payment platform. The platform has gained lots of support from different businesses for being secure and low-risk. But the company does not want to stop at this point. Gluwa combined its efforts on creating exchange risk-free platform with a notable African project.
is known for bringing the institute of instant loans to Africans. The company which is using blockchain technology has become a real sensation in the region. It has created the top financial app in Nigeria and is ready to boost in 2018. The plans are ambitious: Aella Credit is aimed at 1million users in 2018.
The partnership of these two companies is expected to create a glorious project. The Creditcoin network is solving some of the most acute problems of traditional lender/borrower problems. The project has a wide range of benefits that can turn it into resounding success.
Loans have been an effective financial practice for long time. They have proved the efficiency and become a part of various business models. However, they have a significant disadvantage – the need for the third party. Creditcoin eliminates the mediator from the process. Investors contact fundraisers directly – and this algorithm has become possible thanks to the blockchain technology. It allows creating trustworthy credit history that can easily be shared without providing personal details of the party.
The idea behind the Creditcoin network has strong potential. The system provides the users not only with a set of tools for lending money – it creates a crypto society based on trust. Each investment in the system can be proved. The markets are designed to be decentralized and verifiable. The platform turns investing into the main activity for miners.
The future of Creditcoin is now seen as success. Both Gluwa and Aella Credit has invested a lot in the project and completed the private sale. The potential of the project has attracted lots of famous investors: Y Combinator, 500 Startups, VY Capital, Zeno Ventures. Even the co-founder and CEO of Coinbase Brian Armstrong invested in the Creditcoin network development.
The new approach to lending is expected to meet high expectations: the creators of the Creditcoin want to interconnect the $600 billion of capital which is now spread all over the crypto sphere. And the chances Creditcoin succeed seem to be high.
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