CryptoMood is used by traders at the cryptocurrency trading department at Imperium Finance to gain real-time insight into market sentiment. Andrey Lebedev, Imperium Finance director of cryptocurrency trading, says: “All of our traders use CryptoMood to keep updated on what the markets are doing. In the past there was no fundamental understanding of how the crypto markets worked, but investors still wanted to invest because the market was becoming so large. CryptoMood has managed to fill many research gaps in this area.”
Prague-based Imperium Finance is a leading financial brokerage that provides investment and trading strategies for clients. It is regulated by the Czech National Bank and creates unique, highly tailored investment portfolios that include elements of stocks, commodities, indices, foreign exchange and digital currencies.
“Today there is no real alternative to CryptoMood. It is a good instrument to instantly find out news updates. But beyond this, it shows what cryptocurrency influencers are saying on social media. This is valuable for traders because news always takes time to be processed by journalists and editors. By the time market news is published, those in the know have already acted and the opportunity has passed. But social media sentiment is an insight into immediate trends and opportunities. It has no filter and is a great opportunity for those savvy enough to monitor the markets properly,” says Andrey.
As a company, Imperium Finance acknowledges that investing in cryptocurrencies is risky compared to other investments and recommends investors allocate no more than 4–8% of total funds into this market segment.
Andrey adds: “Cryptocurrencies can be wildly volatile. But this volatility is actually the big attraction for traders like me. It doesn’t really matter which way the market is heading. Bitcoin can go to zero or to a million. Ultimately, this detail isn’t crucial. What does matter is to identify the direction of the trend correctly and as early as possible.”
Luckily, showing cryptocurrency trends is exactly what CryptoMood is designed to do.