Thursday 28/04/2022 10:40 from
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Forecasting is a difficult thing. Especially when they concern the future. This aphorism attributed to Mark Twain aptly names the general problem of predictions: the future is open. Nevertheless, it has recently proven to rely on artificial intelligence (AI) for forecasting to identify important indicators and parameters for possible developments. The CoinAnalyst app also relies on AI to predict cryptocurrency price movements – and successfully.
Make data flow manageable
The global crypto markets are mainly characterized by two special features: their high volatility (intensity of price fluctuations) and the pronounced imbalance of information among the growing number of market participants. On the one hand, both open up huge opportunities for returns and, on the other hand, also harbor considerable downside risks. Investors should therefore be aware that investing in cryptocurrencies in the short term without sound information and expertise is almost like gambling. Crypto predictions are especially difficult due to the nearly endless amount of data, news, rumors, and opinions. Market-relevant influencing factors need to be filtered out of this flood of information. However, this can no longer be done manually, but requires the use of automated processes, especially adaptive AI software. CoinAnalyst specializes in this business.
Forecasts developed by CoinAnalyst currently provide forecasts for the three cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Although this offer should be extensive, only cryptocurrencies with a sufficiently high data volume of market-relevant information are suitable. Basically, forecast generation can be divided into four processes.
Step 1: First, data is collected continuously from relevant websites, RSS news channels, Twitter, API (application programming interface) and social media sources. Around ten million identified data points from around 400 different data sources are accessible. Thanks to the NLP (Natural Language Processing) method, messages can be automatically analyzed in order to derive opinions and moods.
Step 2: It is then analyzed which messages caused the price of the respective cryptocurrency to rise or fall above the average over a twelve-hour period. These are then categorized as high-impact news and given particularly high priority in the software-based forecasting model.
Step 3: In a third step, the data patterns are then analyzed with respect to correlations between price movements and the news situation. This process is characterized by the use of different algorithms from the field of machine learning, the results of which are weighted and combined in order to optimize the quality of the forecasts.
Step 4: Based on all this information, the current market sentiment is determined hourly, including a forecast of how the mood will develop over the next twelve hours. From this, one can then see when, based on the forecast model, buying or selling the analyzed cryptocurrency would be appropriate. There are four different gradations to assess the current mood: Negative, Slightly Negative, Slightly Positive and Positive. Based on the weather forecast, a negative forecast is represented by a rain cloud graph, while the sun implies a positive forecast.
High success rate thanks to AI
By the way, CoinAnalyst’s trading experts also like to regularly use market forecasts for Bitcoin, Ethereum and Ripple, so that the knowledge gained from them is also incorporated into the Copy Trading product.
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Conflicts of Interest: A paid IR and PR contract exists with CoinAnalyst. The content of the services is, among other things, to increase the level of notoriety of the company. doctor Reuter Investor Relations is therefore acting in the interests of CoinAnalyst AG when creating and distributing the article. This is an advertising editorial representation.
Business Risks: As with any business, there are risks associated with implementing the business model. There is no guarantee that the business model can be implemented as planned. Further information on the company’s risks can be found on CoinAnalyst’s Investor Relations website: https://coinanalyst.tech/en/#investors
Investment Risks: Investments should only be made with funds that are freely available and not necessary for earning a living. There is no guarantee that the shares will be able to be sold on the stock exchange at any time. In principle, shares are always subject to the risk of total loss.
Disclaimer: All information published in this newsletter/article is based on extensive research. The information does not constitute an offer to sell the title(s) mentioned, nor a solicitation to buy or sell any title. Statements are based on sources that the publisher considers reliable.
Sources: In particular, the information available on the company’s website is taken into account for the presentation and evaluation of the companies. As a rule, there is also direct contact with the board of directors / IR team of the respective analyzed or presented company. Written articles may have been submitted to CoinAnalyst prior to publication to verify the accuracy of all information.
CoinAnalyst shares can be held by employees or authors of Dr. Reuter Investor Relations – taking into account the rules of the Market Abuse Regulation (MAR).
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