Sentiment analysis is an automated process that decides if a sentence is positive, negative, or neutral. It helps to determine the emotional trends that are expressed online.
It is impossible for a person to manually interpret the world’s text-based data due to it being so incredibly massive! CryptoMood’s sentiment analysis system does the job through automation and produces an evaluation based on the data collected.
The sentiment index/score is the numerical representation of market sentiment. The score indicates how positive or negative a text is. The usual system scores -1 for negative, 0 for neutral and +1 for positive.
Some leading providers of sentiment analysis are:
- Hi-Tech BPO
A sentiment analysis conducts a series of approaches that score a sentence or document. The usual algorithmic approaches include:
- Using vocabulary to look at important keywords (usually verbs and adjectives) along with modifiers like negation words.
- Using rules. Vocabulary is categorised into chunks using rules to group sentences by parameter.
- Applying machine learning techniques. A problem is classified and a dataset is amassed. Features are then set up (e.g. keywords). The system is trained and evolves to identify key data points, improving over time. The system is trained and evolves to identify key data points, improving over time.
To analyse a giant set of data, you need a lot of resources to monitor and rate each data point. This provides the opportunity to better understand historical sentiment trends and to use that analysis to make superior decisions.
VADER is another tool that tells us how positive or negative a text is. It’s a cool name that stands for Valence Aware Dictionary and sentiment Reasoner. VADER uses Twitter Sentiment Analysis, also known as ‘Opinion Mining’, to analyse conversations, opinions, and viewpoints all in the form of tweets. Using this information, it can begin to understand business strategy, political analysis, and to assess public actions.
Sentiment data is rated with the help of Natural Language Processing, Artificial Intelligence, and machine learning.
We use two different modules called ‘trending’ and ‘live’. ‘Trending’ selects the most important data, whereas ‘Live’ shows all of the data.
NLP helps to show sentiment when trading crypto by measuring the positivity or negativity of news. If recent news has been bullish and traders are seeing an upward swing, chances are good that the trend will continue.
We source data from news, portals, media, chat groups, social networks, and industry forums. CryptoMood can read anything in electronic form over the internet that mentions the cryptocurrency markets can be considered a data source.
Yes, they are named and graphed on our system.
There is no ‘best’ algorithm for sentiment analysis. Each has its own use and is applied in the correct situation.
Quite a lot! For example, it helps identify a positive or negative comment relating to a cryptocurrency or company. As well as this, it is also helps us to detect how a customer reacts to changes. Understanding these relationships and behaviours can empower decisions.
As part of a university computer science or AI course. Alternatively, you can use the CryptoMood platform if you only need real-time crypto market insights.
CryptoMood does that for you so that you can concentrate on trading in order to increase your profit.
- Over 50,000 news and opinion sites
- 4 major social media networks
- Crypto exchanges
- Whale wallet tracking
- Forums and chat groups, and even article comment sections
We have powerful servers that monitor, scrape data, and track changes in real-time.
CryptoMood collects and analyses content in English. We are working hard to bring you other major languages from other markets that also impact crypto.
Previous trading experience helps you to be a better trader, but you do not need previous trading experience to use CryptoMood.
The sentiment score can be used by a trader to influence their buying and selling decisions.
Yes, everything is straightforward and easy to do. Please check the user agreement.
Due to privacy and business concerns, this is not possible.
This solution is only available in the CryptoMood business license version.
Your feedback is important to us, so feel free to ask directly over Telegram or Facebook. We currently monitor well over 50,000 sources and this number is growing every day.
Yes, an API is available in the business version.
We are the fastest and most powerful cryptocurrency market analysis tool in the world. CryptoMood is unique, proprietary, and the only solution of its kind currently available to cryptocurrency traders and investors.
We use special algorithms that do things like count followers and comments. The AI categorises and values each source individually and accordingly.
We use all publications, but rate the market impact of each data source and data point individually according to importance, which is determined by evolving algorithms.