Predicting Prices with Predicoin

in bitcoin •  6 years ago 


Predicoin is a pretty cool, free tool that crypto traders/investors can use. I've been using it the past few weeks and wanted to share a bit about it.

It has a beautiful UI/UX and a lot faster and comprehensive than using coinmarketcap.

They aggregate trending news articles and viral social media posts into an all-in-one data platform, where crypto investors can also analyze content sentiment.

They do this by combining 5 different data verticals to generate their “SentScore,” which reports the general outlook of a coin:

  • News: Content from over 100 cryptocurrency websites

  • Social conversations: Reddit and Twitter discussions

  • Technical analysis: Traditional technical analysis indicators

  • Fundamentals: A coin’s strength judged by micro- and macroeconomic factors

  • Trends: Short-term popularity and long-term trending characteristics of a coin


I just had a chat with their founder, Pierre Picard, and he explained that the tool can be used to augment an investors due diligence -- but they’re not going to tell you when to buy or sell. That’s obviously your judgement call.

I also asked him if they’d found any useful correlations, and he shared some interesting examples below.

Quoting from him directly:

  • ETC 51% attack: ETC developers and the general community were made aware of a possible 51% attack on the ETC network on January 7th, 2019. Before price could react and plunge nearly 20% over the following week, the average SentScore had already dropped due to the numerous negative news articles and social media posts.
  • Ripple partnership with PNC: On September 19th, 2018, PNC announced that it planned to use a Ripple service for assisting with its overseas transactions. Predicoin caught the sentiment shift in news, leading the overall SentScore to a near all-time high for XRP at the same time the price was reaching a high for 2H 2018.
  • Bitcoin Cash Hardfork: During the Bitcoin Cash hard fork on November 15th, 2018, there were an increased number of news articles mentioning BCH. Predicoin detected negative sentiment among this growing volume of news, causing the News Sentiment score to drop indicating bearish sentiment. This negative sentiment correlated with the price drop amidst the BCH hard fork and overall bear market in mid-November.

The way I’m personally using it right now is to get a general idea of market sentiment and stay up to date w/ developments in the general crypto community. It’s pretty useful for the general crypto enthusiast as well as trader.

Check it out here: https://predicoin.com/



Posted from my blog with SteemPress : https://mishayurchenko.me/2019/02/12/predicting-prices-with-predicoin/
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://predicoin.com/

Thank you so much Misha for featuring us!

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