Social Media and Cryptocurrency Trading — How Algory Cryptonews will help you!
You are only as fast as your reaction to a specific piece of news on the market. In recent years, Social Media has become an essential medium for conveying important information which may influence currency prices, stock prices or prices of other financial instruments.
One of our tools has been specifically designed to enable you to aggregate data from across the world and filter them appropriately. We will also be adding automatic trading upon detection of an appropriate piece of news by the system.
However, firstly I would like to make you acutely aware of just how fast access to information influences your ability to complete a truly spectacular transaction.
News trading — never be late again!
In just a moment, I am going to demonstrate how efficient a trader you can become. An efficient trader does not always need to have a complex trading strategy. Very often, they simply need to be fast — this applies to reading a piece of news, its interpretation, and a swift response.
We don’t need to look far — Donald Trump’s tweets are famous across the world. He manages to impart many pieces of information via Twitter before he presents them in an official statement. Reactions to the tweets are immediate.
See the information that appeared on Twitter on 26 October, at 2:29 P.M.
Here is the reaction of the companies whose industry was referred to in the statement of the President of the United States:
In the chart, I have marked the point when the tweet was posted. A trader who has a tool such as a news system in their arsenal, would receive the appropriate information immediately following its appearance. They are then able to respond very swiftly by taking a short position on a given company. It was not until a while had passed that the information became more disseminated on the market and a sharp decline was observed. A fast trader already completed a transaction at the very beginning of that trend.
Influencers, research companies, and famous investors. They all have an impact on what is happening on the market. Especially on Twitter — each of their tweets can cause a very strong reaction on the market or in selected securities.
See the following example from more developed markets — i.e. stock exchanges, where I come from. See the news, time of posting, and the strong reaction.
Cryptocurrency news trading
News trading is no different on the cryptocurrency market. In fact, it works identically. Imagine a tweet posted by a person with 446,000 followers. It reaches a great many communities, including the communities of traders and investors on the cryptocurrency market.
A very interesting situation occurred not so long ago, when “Zerohedge”, which you are probably familiar with, posted a tweet on its plan to launch Bitcoin futures at CME. Big news! And, interestingly, the piece of news was posted on CME’s official website, yet it was “Zerohedge” that tweeted about it first. The CME Group’s official Twitter account posted the information several minutes later. See how the market reacted and how access to fast information pays off:
Tweet posted by Zerohedge at 6:30 A.M.
Tweet posted by the CME Group at 6:34 A.M.:
The information was published in a press release on CME’s website. However, that release did not generate any trends; the trend was generated by a tweet from someone with followers across the world.
Cryptonews — be quick as hell
One of our products — Cryptonews — will grant you access to immediate news from across the world, access to which is of enormous significance because it determines the increased potential of the profits generated by you.
A huge number of the most important information sources around the world have been defined in our platform. Social media is also being analyzed by our algorithms, so that nothing escapes the traders’ attention. Moreover, users will also be able to define their own additional information sources.
Cryptoscanner
Cryptoscanner, another of our tools, will enable you to detect the cryptocurrencies for which the greatest increase in discussions is being observed in social media. This will tell you which cryptocurrencies are ‘hot’ at that moment and being most frequently mentioned in social media.
Read more about Cryptoscanner: Cryptocurrency scanner.
Cryptonews-based autotrading
The next product development phase provides for trading automation. A user will be able to add an autotrading function. This brilliant solution will enable you to complete a transaction when a specific event occurs on the market.
What does it mean for you in practice? You will be able to define specific cryptocurrencies and specific news phrases. When the system detects the positive/negative phrases defined by you for a specific cryptocurrency, it will be possible to complete an immediate transaction in a direction that matches the sentiment.
You don’t even need to be at your computer for it to happen. Isn’t that wonderful?
As I have demonstrated in the article, social media has an enormous impact on what is happening on the market. Via websites such as Twitter, information finds its way to a broad circle of recipients in the fastest way.
Our innovative new tool will prevent you from ever missing any news again. Use it properly and we are sure your profits will increase markedly.
About Algory Project
Algory Project was founded by two traders who come from the American stock exchanges: Tomasz Przybycień and Dominik Gordel. In cooperation with developers and technology specialists focused on trading tools, they started to develop a multifunctional tool to support cryptocurrency trading — Algory.
Sign-ups for the Whitelist ICO — Algory.io started on November 15. Join the Whitelist to be sure to take part in the PreSale, during which you will be able to purchase the Utility Token ALG with a 20% bonus.
Algory Project in practice
In the weeks to come, we are going to describe the functions provided by Algory Project. We want you to fully realize what a comprehensive and professional crypto-trading tool we are preparing for the crypto-trading community.
In the following days, you will learn about:
- Cryptoscanner
- Cryptonews
- Blockchain analyzer
- Cryptocurrency backtester
- Auto-trading
- Arbitrage scanner
- ICO viewer
- Exchange comparison
- Social learning
- Trading room
- Cryptoviewer
- Cryptocoin
- Chart signals and analytics
It is our pleasure to welcome all of you who are either considering or planning to participate in our ICO.
The following series of articles will show you what we do, what our product looks like, and how you can use it in the cryptocurrency market.
Check our website: https://algory.io
