Contrary to other financial instruments, the value of cryptocurrencies is solely determined by online demand. Combining this with the fact that most cryptocurrencies have a definite limited supply, the effect of social media and general opinion thus serve as a significant determining factor in its price. Our algorithms scrape this public information to determine the appropriate actions that should be taken.
A recent article published by Business Insider this October concluded that there is a 91% correlation between the volume of Google search inquiries about Bitcoin and its market value. This, however, is as in-depth as research in this field is as both blockchain and big data are emerging fields. Our group is setting a precedent, with proven historical accuracy and reliable trends.
In the future we hope to apply these analytics to other financial instruments such as stocks or FOREX. The reasons our algorithms can accurately predict Bitcoin prices hold true for many other financial instruments where there similarly are an abundance of public information revealing customer sentiment.
