Thomson Reuters Now Tracking Bitcoin Sentiment

Thomson Reuters is set to track and analyze mentions of Bitcoin – the dominant cryptocurrency by market capitalization – across hundreds of social media and news websites.

Mainstream Analysis

Canadian multinational mass media and information firm Thomson Reuters is to track and analyze conversations about Bitcoin across hundreds of news and social media websites, in an effort to help keep investors interested in the dominant cryptocurrency ahead of the curve.

As reported by Reuters, this analysis will come in the form of a new version of the company’s MarketPsych Indices, which Thomson Reuters operates alongside behavioral economics research firm MarketPsych Data.

The new version of the MarketPsych Indices will find mentions of Bitcoin on more than 400 websites, in an effort to properly illustrate current sentiment in regards to the volatile cryptocurrency.

Thomson Reuters Now Tracking Bitcoin Sentiment

The move by Thomson Reuters comes primarily in response to the popularity of online analysis in traditional asset trading and illustrates the continued push by Bitcoin into the mainstream investment consciousness.

Cryptocurrency-focused forums and news media are still relatively new and have remained largely untapped by traditional investors until now. Explains Austin Burkett, Global Head of Quant and Feeds at Thomson Reuters:

News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading.

Current Sentiment

It doesn’t take the analysis of over 400 websites to gauge current market sentiment on Bitcoin. At press time, Bitcoin is trading at $9,156, after a short rebound to almost $9,900 — and many investors are currently scratching their heads while wondering which direction the dominant cryptocurrency will lead the market next.

Since reaching roughly $20k in December, Bitcoin has gone through a fairly prolonged correction, culminating in a massive sell-off down to under $6k in February.

Bitcoin bulls might view the current price of cryptocurrency’s gold-standard as a major buying opportunity, while naysayers still claim Bitcoin’s not worth the price-tag.

Only recently, Harvard University professor and former IMF chief economist Kenneth Rogoff predicted that Bitcoin will bottom out at $100 in 10 years. Meanwhile, Bitwise Asset Management Vice President of Research and Development Matt Hougan recently claimed Bitcoin and the cryptocurrency market is a trillion-dollar opportunity.

What is your current sentiment on Bitcoin? Let us know in the comments below!

Images courtesy of Shutterstock, Pixabay

12.03.2018 / 18:39 101
Thomson Reuters is Charting Bitcoin Adopters’ Emotions as Data for Traders Thomson Reuters is Charting Bitcoin
Thomson Reuters has teamed with MarketPsych Data LLC, a provider of quantitative behavioral economics, to launch a new version of its MarketPsych
Thomson Reuters and Marketpsych Launch Bitcoin Sentiment Index Thomson Reuters and Marketpsych Launch
Thomson Reuters Corp has announced the launch of a gauge tracking the sentiment of cryptocurrency traders. The metric will track and examine
Thomson Reuters To Begin Tracking BTC Market Chatter To Help Traders Thomson Reuters To Begin Tracking BTC
Thomson Reuters has announced that they will begin tracking BTC market chatter from over 400 crypto-related websites. Canadian mass media and
Bitcoin Sentiment to be Tracked by Thompson Reuters Bitcoin Sentiment to be Tracked by
Market sentiment plays a huge part in the crypto industry. Prices can pump or slump on the whim of a shill, or a flurry of mainstream media FUD. This
BMW Is Working With Another Blockchain Firm, This Time To Track Cobalt, Report Says BMW Is Working With Another Blockchain
Sourcing clean cobalt has led BMW to partner with a little-known UK Blockchain startup, Reuters reports German car manufacturer BMW has allegedly
Mexicos Cryptocurrency Regulation Awaits Presidential Signature Mexicos Cryptocurrency Regulation
Cryptocurrency will see official regulation in Mexico once its president signs it into law, reports say. Mexico is just one signature away from
Comments (0)
Add a comment
Comment on