Social media sentiment drastically cooling down, followed by a 30% Bitcoin price correction from 41k USD
BittsAnalytics provides its users with real-time social media sentiment, calculated with machine learning from social media texts about individual cryptocurrencies.
We are one of the oldest providers of social media sentiment analytics data, delivering data for our clients since 2017.
Social media sentiment has proved as a very valuable signal many times in the past and again in recent downturn. It should be used in combination with other data or integrated in your machine learning models for trading and investing.
After Bitcoin reached the recent all-time highs around 42,000 USD, the social media sentiment of Bitcoin significantly cooled, as can be seen in chart below. Soon after cooling of sentiment (when Bitcoin price was still at around 42k USD), the Bitcoin price reversed the trend, eventually falling by almost 30%, to around 32k USD.
Social media sentiment can be an interesting additional source of data when assessing the crypto currencies.
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