The all-in-one online cryptocurrency information platform, NewsCrypto has announced, it is rolling out a new price prediction tool powered by Artificial Intelligence (AI), which will allow the tracking and analysis of top cryptocurrencies by parsing social media sentiment data.
By aggregating news and social media content and extracting sentiment data by using machine learning, the new tool will allow investors to take advantage of the growing importance of social media to improve their investment strategies.
The announcement says that the tool will compile information from Twitter and Cryptocurrency-related websites to identify trends that are likely to have an impact on the crypto market, providing its users with an edge over other investors and automating the time-consuming process of evaluating sentiment.
This model will be used to predict the future price of the top 20 cryptocurrencies in the market, which include Bitcoin, Ethereum, XRP, Binance Coin, and others. This will prove especially useful to altcoin investors at a time when the rankings are likely to change amid the growing popularity of cryptocurrency around the world.
The new tool is the latest addition to the platform, which aims to provide the world’s top traders with an all-in-one crypto suit to improve their decision-making, no matter their current level of knowledge.
Harvesting the Power of AI
According to the company, the NewsCrypto platform makes use of a complex array of parameters to determine the potential impact of a Tweet or News publication, such as its origin, follow base, performance, etc, which are then computed to determine the market sentiment.
This information is then provided to the user in the form of easy-to-understand insights based on the estimations of the AI, which will also take into consideration past market trends to predict if the overall market sentiment toward a coin is “Enthusiastic”, “Very good”, “Good”, “Neutral”, “Bad”, “Very Bad”, or…