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Beyond Bitcoin: Thomson Reuters data now traces the first 100 Cryptos

The media and data giant Thomson Reuters is expanding its cryptocurrency data toolkit to cover 100 different currencies, he announced Wednesday.

Initially launched in March, the bitcoin data feed was created in partnership with MarketPsych Data LLC. The Thomson ReutersPsych Indices Cryptocurrency Sentiment package (TRMI 3.1) monitors more than 2000 global news and 800 real-time social media sites.

Measure feelings such as "excitement" or "hope" to provide information on investments and reveal market patterns using natural language processing combined with machine learning.

"The addition of a cryptocurrency opinion feed to our cross-asset suite of solutions has enabled us to provide our customers with valuable information that can help them make strategic investment decisions," said Pradeep Menon, global manager. investment and advice from Thomson Reuters.

Completed by quantitative analysis, TRMI 3.1 uses a series of additional tools developed by MarketPsych behavioral economists to "identify influential topics and develop feasible strategies more quickly", according to the company.

This expansion of the capabilities of TRMI is part of a growing case of the use of artificial intelligence technology among investment analysis products.

MarketPsyche CEO Richard Peterson explained in a previous interview that trends in digital conversation can be identified as leading or late investment indicators.

With a class of assets such as cryptocurrencies that are inherently digital and the flow of information around them highly retrieved from online forums, data on sentiment could prove to be a particularly significant indicator of where cryptographic markets are heading.

Image of the index through Shutterstock

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