It gauges sentiments such as "Excitement" or "Hope" to provide insight on investment and reveal market patterns using natural language processing combined with machine learning.
"Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has...enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions," said Pradeep Menon, Thomas Reuters' global head of investing and advisory.
Supplemented by quantitative analysis, TRMI 3.1 uses a host of additional tools developed by the behavioral economists at MarketPsych to "Identify influential themes and more rapidly develop actionable strategies", according to the firm.
This expansion in the capabilities of TRMI is part of a growing use case for artificial intelligence technology among investment insights products.
CEO of MarketPsyche, Richard Peterson, explained in a past interview that trends in digital conversation can be identified as leading or lagging investment indicators.
With a class of assets like cryptocurrencies that are by nature digital - and the information flow around them highly sourced from online forums - sentiment data may prove to be a particularly poignant indicator of where the crypto markets are heading.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Beyond Bitcoin: Thomson Reuters Data Now Tracking Top 100 Cryptos
Published on Jun 13, 2018
by Coindesk | Published on Coinage
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