A member of Reddit has just launched an app that uses Reddit and Twitter to estimate potential FOMO and FUD situations today.
Redditor asifshoro has confessed that the prolonged bear market is what led him to develop this app, available both through the Play Store and the App Store.
Collecting social data such as the number of citations on social networks or the percentage of new followers on Twitter in a given period of time, the developer hopes to help those who build their own market forecasts.
The logic behind its system is that large price moves in a currency are preceded by equally relevant levels of online interaction, either on Twitter, Reddit or both.
Although this app is still under development, Chepicap has tried the version for Android and at the moment it seems quite functional. It also counts with a useful notification system for large price movements, among some other features. Good news also for those who are concerned about privacy, as the app offers the possibility to use it without registering and does not require any authorization from the phone.
Most of the comments on Reddit were largely favorable to the latest gift from a community member, although some have requested changes to the app:
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