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The Canadian mass media and the information society Thomson Reuters will follow the top 100 currencies of its feelings analysis program. The necessary data will be provided through a partnership with MarketPsych Data LLC, according to a WebWire press release published Wednesday, June 13th.
In March, Thomson Reuters added a Bitcoin sentiment data feed (BTC) to its MarketPsych Indices (TRMI), obtaining data by scanning over 400 cryptocurrency news and media sites.
The new TMRI Cryptocurrency Sentiment package (TRMI 3.1) will monitor over 2,000 news stories and 800 social media sites for 43 feelings from the first 100 cryptocurrencies. The press release notes that TRMI 3.1 will use visualization tools and quantitative research results to support traders to distinguish significant topics.
In April, a Thomson Reuters survey showed that 1 out of 5 finance companies in their sample had shown interest in expanding into cryptocurrency in the next year, finding that an estimate of 56 will offer a form of crypto by October.
Pradeep Menon, Managing Director and Global Head of Investing and Advisory at Thomson Reuters, said the move to cryptography in the financial sector led to the new version:
"Adding an opinion feed focused on cryptocurrency to our cross-asset suite of solutions has enabled us to provide our customers with valuable information that could help them make strategic investment decisions."
The press release notes that Thomson Reuters has introduced the crypto trading on Thomson Reuters REDI this year, supporting the trading of CBOE and the CME Group's Bitcoin futures.
In March, Tom Lee of Fundstrat created another type of sentimental crypto device, the Bitcoin Misery index, which measures the way in which "miserable" Bitcoin holders are based on current prices.
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