The social trading and investing platform eToro has partnered with analytics and finance management startup The Tie to launch a sentiment-based analytical tool to track people's perception of cryptocurrencies.
eToro unveiled the new strategy, dubbed TheTIE-LongOnlyCopyPortfolio, in an official announcement on Oct. 15.
The strategy analyzes digital currency-related conversations, processing 850 million tweets every day by means of machine learning and natural language processing technology.
Opening trades on positive sentiment signals onlyWhen parsing through social media messages, the tool scans each tweet individually to single out tweets related to a specific cryptocurrency and uses a filter to assess the relevance of the data and to remove spam and bots.
Sentiment is measured on a per coin basis to guarantee that the assessment properly reflects positive and negative conversations on Twitter for a particular coin.
The TIE's Long-Only CopyPortfolio is a bullish sentiment-driven strategy that considers long positions only with a minimum of three holdings, which eventually opens trades based on positive sentiment signals on Twitter.
"All you need to do is click one button and you can copy these sophisticated trading strategies trusted by some of the world's leading hedge funds and institutional investors."
Crypto indices and "Human-free" tools gain traction.
The "Human-free" tool targets both industry newcomers and professional investors.
eToro, The Tie to Track Crypto Sentiment on Twitter for Investors
Udgivet den Oct 15, 2019
by Cointele | Udgivet den Coinage
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