Whoever said emotions were intangible and cannot be measured could not be more wrong. In the current scenario of the world, Thompson Reuters gives us an emotional measurement that is worth measuring. No, we don’t mean love, this is the other emotion which is probably much more valuable, this is about how people feel about Bitcoin.
Thompson Reuters recently tweeted supporting blockchain technology:
Thompson Reuters announced today that Bitcoin data feed will be included in their latest version of MarketPsych Indices.
Thompson Reuters MarketPsych Indices is a real-time, easy to interpret analytics using new feeds and social media banter. It scours through the various sources and through AI, analyses the sources to extract meaning that it quantitate.
It uses emotional indicators such as fear, joy, and trust, buzz metrics based on mergers, banks etc. and provides forecasts and expectations from over 400 websites related to cryptocurrencies.
Austin Burkett, global head of quant and feeds at Thomson Reuters says:
“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.”
A Twitterati says:
“You should be ashamed!”
According to the recent blog by Thomson Reuters:
“Some of the most promising blockchain use cases currently in development include financial instrument and trade identification, data delivery, payment systems, land registration, contract law, and even identity verification.”
The blog also mentions the critical role blockchain technology will play in shaping and determining our future.
Wrey Wen, a cryptocurrency investor says:
“This is the power of FOMO and FUD”
Kavindra Joshi, a cryptocurrency enthusiast says:
“Wooh!!! is bitcoin becoming mainstream.”
This very information is of course very valuable to investors as it gives them another dimension to gauge and base their judgments on. Currently, investors use chat forums, multiple news sites, and social media to ascertain what their peers and fellow investors feel about Bitcoins. These are not always easy to navigate and find. Given the volatility of the coin off-late, this will be a welcome addition to the cryptocurrency community.
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