Reuters Launches Bitcoin Sentiment Gauge for Crypto Traders

Written by:
Guest
Published on:
Mar/12/2018

LONDON (Reuters) - Thomson Reuters Corp is to track and analyze chatter about bitcoin on hundreds of news and social media websites to help investors looking for an edge in trading the world’s biggest cryptocurrency, the company said on Monday.

A new version of its MarketPsych Indices, which it runs in conjunction with MarketPsych Data LLC, a behavioral economics research firm, will scan over 400 websites, many specific to cryptocurrencies, to capture market-moving sentiment and themes, Thomson Reuters said in a statement.

Digging through market chatter and analyzing online sentiment has long proven popular among traders of traditional asset classes.

The boom in the prices of cryptocurrencies in recent years has spurred a huge online industry where individuals exchange trading ideas in forums and news websites report on the latest developments in the industry.

Many analysts have linked online activity, for example Google searches for “bitcoin”, with the price of the best-known cryptocurrency.

“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,” said Austin Burkett, Global Head of Quant and Feeds, Thomson Reuters.

Bitcoin’s price gained more than 1,300 percent last year as investors piled in, and since peaking at close to $20,000 in December has lost more than half its value. It was trading at around $9,600 on the Luxembourg-Bitstamp exchange on Monday.

Business/Financial News

Cryptocurrency Prices Slumping Again, Attibuted to Japan Demands

Cryptocurrency Prices Slumping Again, Attibuted to Japan Demands

A slumping market across most cryptocurrencies is being blamed on Japan's Financial Services Agency (FSA) requring exchanges to make improvements to the Japanese trading platforms' anti-money laundering practices. 

'Enormous Assets' to be Returned in Mt. Gox Debacle

“This is the first time in Japan legal history,” attorney for the creditors, Daniel Kelman, stated, “that a liquidation has ever converted into a rehabilitation —it’s always the other way around after a rehab fails. This sort of also made legal history as well.”

US Federal Reserve Launches Cryptocurrency Index

US Federal Reserve Launches Cryptocurrency Index

This week the Federal Reserve Bank of St. Louis added cryptocurrency to their Federal Reserve Economic Data (FRED) database, a sign that the digital currency is maturing.

ICYMI—Wins & Losses for Bookies During The World Cup Opening Weekend

The World Cup Opening weekend is a wrap, and online bookies using the right tools should have made it out big. Get the recap and don’t make the same mistakes twice, and make Matchday 2 profitable.

3 Social Media Marketing Tips For Bookies To Grow Their Sportsbooks

Social media marketing can be used to grow sportsbooks, but pay per head agents still must stay discreet. Get the 3 best tips to be social and grow your online business and find out the don’ts too!

Syndicate