We track millions of social media posts and use machine learning to determine sentiment of cryptocurrencies in real-time. Hourly sentiment can provide opportunities for profit especially in turbulent times like the last week. One signal we look for are surges in either hourly sentiment or tweets mentions like seen in the chart below for Verge which we regard as bullish signals (when occurring in a consolidating or downward price trend):
As you can see there was a sentiment and mentions surge (signal 1) and (signal 2) and sentiment surge (signal 3). We plotted these signals on the price chart of Verge:
As you can see after the first and third signal, price rallies were especially big. The total compounded return from these signals was around 170% and occurring in time when most other cryptocurrencies actually fell. If you want to improve your trading in cryptocurrencies you can start using our platform BittsAnalytics – just subscribe at www.bittsanalytics.com.
