The Thomson Reuters company involves AI for data analysis from hundreds of Internet sources
Thomson Reuters strongly believes that the volatility of the cryptocurrency can be affected not only by major global events associated with a particular token or blockchain technology, as such but also what users in the network write about digital currencies.
Yesterday, Thomson Reuters said it plans to use artificial intelligence to monitor and analyze data from 400 web resources. Among them are dozens of news sites and social. network. Representatives of the company argue that the collection of information will allow in the shortest time to familiarize traders with the current situation in the market, thereby providing the basis for forecasting prices for this or that coin.
In the process of work will be used already ready-made product MarketPsych Indices, because due to the cooperation of Thomson Reuters with MarketPsych Data, you can now not only investigate the behavioural economy but also track the many data streams collected from hundreds of resources.
Unfortunately, we should admit that, unlike the stock and currency markets, the crypto-currency is extremely sensitive to speculation and the rise or fall in two-digit numbers is a very typical event. Decentralized nature, lack of regulation and attraction of many investors makes any forecasts very difficult. And although dozens of companies try to conduct a detailed analysis, in most cases they rely only on historical trends and speculation. In addition, the newly-minted market is subject to FUD, which has repeatedly been spoken by the creator of Litecoin – Charlie Lee.
We hope that Thomson Reuters will be able to examine in detail, and most importantly, to understand the psychology of the market of crypto-currencies by including in its AI analysis such popular resources as Bitcointalk, Reddit, Twitter and others, where daily it is possible to find many useful insights and simple tips that help beginner crypto-investors .