CryptoMood had already established themselves as one of the leaders in artificial intelligence. The company has used its technology to create news aggregators that learn from consumers, markets, and policies to help create a personalized experience to match specific markets and individuals.
In December, CryptoMood announced that they had joined the Crowdholding platform. This allowed users to get the specific information they desire based upon their personal interests, website history, and views to get news from 30,000 different sources based upon the technology developed by the company. This was seen as a revolutionary step that could be used in a wide variety of platforms.
Now, CryptoMood has announced that they will be using their AI to help analyze cryptocurrency market data to determine which direction the market may move.
Explained chief commercial officer Filip Korbel, “CryptoMood is unique in the digital currency world because of the vast scope of analysis it provides and at such speed. Our AI completely transforms the understanding that traders have of market dynamics. There is nothing else like it in crypto.”
The intelligence behind the program will track and record data from thousands of different sources across the globe, and do so in real time. This will include such outlets as news, chat groups, cryptocurrency and fiat exchanges, social networks, and much more.
According to the company, over 50,000 different news, social media, and opinion sites will be tracked as well as the exchanges and whale wallets. This should give the CryptoMood platform a huge amount of information that can be analyzed quickly and in real time, providing users with information to make informed and intelligent decisions.
What separates this artificial intelligence from many others is the fact that it is able to absorb all of this data and provide analysis within seconds. The big concern to this point has been the data-time challenge, where lots of information needs to be evaluated but there is simply not enough time to do so. CryptoMood appears to have overcome that, and this is why this particular technology is being hailed as something extraordinary.
Streamr had been working with Daisy AI to overcome this challenge. However, to date, it does not look like they had achieved as much as CryptoMood.
There will be two different products offered by the company through the use of their artificial intelligence technology. The ElasticTrader will analyze cryptocurrency and Forex trading platforms. The MT Terminal will be a form of MetaTrader plug-in that will offer unique features for consumers such as a Market Depth View.
Korbel adds that this technology is truly revolutionary. “Markets are not always rational. We named our company CryptoMood because we also have a way to quantify market sentiment. Our systems can mathematically quantify and assess the attitudes and even the emotions that people express towards various cryptocurrencies. You can’t get a more complete picture than that.”
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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