How sentiment could help you reenter position after downturn and make 20% on Bitcoin in latest rally
We track millions of social media posts and use machine learning to determine sentiment for 200+ of cryptocurrencies. Sentiment and other social media data can often greatly help you in cryptocurrency trading. E.g. the most recent big decisions were 1) should you go back in market (if you decreased positions before) and 2) if yes then when to do it. We track hourly sentiment for Bitcoin determined with machine learning from tweets, see the chart below. And came to the conclusion that a very good reentry point was on 17th January 9am UTC time since the sentiment showed that the worst seemed to be over for Bitcoin. The price at that point was around 10.500 USD so it was a good point for (re)entry. Bitcoin has rallied about 20% since then.
Tweets mentions and sentiment are often ahead of the price and you can start using sentiment and tweets mentions data like this to improve your cryptocurrency trading by using our platform www.bittsanalytics.com.
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