Thomson Reuters, mass media and data giant, announced expanding its cryptocurrency sentiment data feed to cover 150 different coins.
“Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has…enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions,” said Pradeep Menon, Thomas Reuters’ global head of investing and advisory.
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. Being a partner of MarketPsych Indices, Thomson Reuters provides transparent cross-asset insight into both traditional and new asset classes like digital currencies. In 2014, Reuters has integrated Bitcoin price data to its financial desktop platform Eikon.
World news sentiment analysis tools named MarketPsych Indices were launched in 2012 and are aimed at analyzing informational materials and social media in real time across more than 2 000 top global news sites and 800 international financial social media sites.
Thomson Reuters MarketPsych Indices convert a great volume of professional news and social media content into manageable information flows that can be easily and effectively applied to trading and investing activities. They are delivered as real-time data series that can easily be incorporated into your analysis and decision processes – quantitative or qualitative.
In March of this year, Thomson Reuters announced the launch of a new version (v3.0) of its MarketPsych Indices that it runs in conjunction with a behavioral economics research firm MarketPsych Data LLC. This new version included its first sentiment data feed for Bitcoin as well as enhanced market sentiment data for several asset classes, new user capabilities, and additional coverage. Currently, Thomson Reuters presents prices for Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.
Crypto has been captivated the news and social media cycle, which suggests that a closer analysis of these signals could be one of the better ways to understand what’s taking place in digital asset markets. With digital currencies, sentiment data may prove to be a particularly poignant indicator of where the crypto markets are heading.
Expansion in the capabilities of Thomson Reuters MarketPsych Indices is part of a growing use case for artificial intelligence technology among investment insights products. According to Richard Peterson, CEO of MarketPsyche, trends in digital conversation can be identified as leading or lagging investment indicators. That’s why expansion of sentiment data feed to 150 cryptocurrencies is a wisr step.