One the world’s leading source of news and information for professional markets – Thomson Reuters – is to offer a new possibility for traders and investors to follow the situation on the cryptocurrency market.
Thomson Reuters Corp has announced the launch of a new version (v3.0) of its MarketPsych Indices that it runs in conjunction with a behavioral economics research firm MarketPsych Data LLC. This new version includes its first sentiment data feed for Bitcoin as well as enhanced market sentiment data for several asset classes, new user capabilities, and additional coverage.
Over 400 informational websites and social media, including a range of specific to cryptocurrencies ones, were added to the feed with a view to be scanned and monitored in real-time. It will help to understand up-to-date market-moving sentiment and themes.
The third edition of MarketPsych Indices boasts enhanced sentiment coverage of national fixed income securities and stock market indexes for the top 61 world economies and the Eurozone as well as expanded coverage of currencies, countries, and agricultural commodities asset classes.
Monitoring of market chatter and analysis of online sentiment have already proved their popularity among traders of traditional assets. Cryptocurrency traders and investors are also trying to find out market tendencies based on online discussions and media content in order to take investing decisions and evaluate risks. Many experts have already discovered a link between online activity, including thematic Google searches, and the price of the most popular and widely-known cryptocurrencies.
As Austin Burkett, global head, Quant and Feeds, Thomson Reuters noted, “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”. “As the financial marketplace rises in complexity, so too does the need to provide our clients with not only the relevant data, but the tools to help them manage and analyze that data. MarketPsych 3.0 helps deliver another layer of analysis and value-add in the investing process.”
Thomson Reuters provides transparent cross-asset insight into both traditional and new asset classes like cryptocurrencies. In 2014, Reuters has integrated Bitcoin price data to its financial desktop platform Eikon. Currently, it presents prices for Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.
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