Trading hourly sentiment reversals in recent downturn – 15% in around one day on Bitcoin
We track millions of social media posts and use machine learning to determine sentiment for 200+ of cryptocurrencies in real-time. Hourly sentiment can provide opportunities for profit especially in turbulent times like the last few days. One signal we look for is a prolonged fall in hourly sentiment followed by a sharp sentiment reversal in positive direction, like seen in the chart below for Bitcoin:
It occurred on 2nd February 1pm UTC time. The price at the time was 8050 USD and then quickly rallied for the intermediate high of 9377 USD for a return of over 15%.
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