Master the market and optimise your trades through A.I.
In a market uniquely driven by mood and sentiment, harnessing the most recent and accurate data on any cryptocurrency is crucial for deciding where to invest next. Change in regulation? Pending value drop due to poor management? These are the cues that all cryptocurrency investors look to before every trade. However, despite this need to access this relevant data prior to trading and purchasing a cryptocurrency, manually researching and analysing this data is not-only time-consuming; but most likely inaccurate.
This calls for an automated alternative to this same process. Daneel not only provides this alternative, but actually delivers an even more efficient solution through the functionality of live market alerts.
Let’s start with the ‘how’
When we think of optimising our crypto trading decisions, the concept of curating social data is not too far of a stretch: both traders and ICO holders instinctively know that the crypto market is driven by sentiment — not statistics. At the manual level, this has already encouraged research practices to involve sources such as social media to capture this ‘market mood’, and bots with basic functionality are already here to help.
However, although other platform providers may recognise social channels as where these indicators are hidden; this does not address the ‘how’ in the technology used to extract these implications accurately.
Data needs to be curated across not one, but multiple channels. But then, even with the advantage of being able to corroborate trends across multiple sources, the categorisation of this data must be specific to variables known to influence token performance.
With Daneel, this curation of data not only enables you to receive real-time updates on the current rates of your different cryptocurrencies, but also presents: news updates specific to technological changes of the platform; legal changes that may influence the performance of the token; and updates on new partnerships that may impact the value of the cryptocurrency.
Yes, data curation lies at the heart of Daneel; but its targeted categories are those know to specifically impact cryptocurrency performance. However, when it comes to the question of ‘confidence’ in a given cryptocurrency, Daneel also takes this several ahead.
Quantifying confidence? With Daneel, you can
Trading in any market assumes that your research and gut-feeling were pin-point accurate to begin with. For fiat-based investments, betting on a long-standing stock performance and reputation can suffice — even for seasoned investors with significant capital on the line.
But in the crypto universe, your bet is made on much more volatile ground: if successful, the gains can be high; but even the shakiest of moves can make any crypto investor fall right back to square one.
Without long-standing records and the influences that regulate fiat trading activity, confidence in any cryptocurrency needs quantifying. And with in-depth research out of the questions for many impatient traders, automating the process of analysing market sentiment is the natural answer.
As a first step to quantifying confidence, Daneel presents the risks as ‘ratings’ according to predicted reliability and market mood with alerts triggered by real-time data.
Let’s take a concrete example
But with confidence ‘quantified’, to what extent does this really enhance trading decisions in a real-world scenario?
Let’s take a walk with Satoshi, a daily crypto trader:
Consider this: it’s 9am in the morning, and Satoshi glances over his smartphone. He recently installed the Daneel app recommended to him by a colleague and has decided that today is the day he will take it for a spin.
Over morning coffee, a headline in his Daneel newsfeed catches his eye:
‘’Bitcoin: Impending downward trend’’ with Daneel’s analysis saying to be careful with this news.
In his fiat portfolio, it has happened before: a stock takes the dive, meaning stocks to buy quickly before the value climbs back up. But then, what if it never did?
Well, at least with his stocks, there was a track record of data to review, and seasoned investors to turn to. But with cryptocurrency, the game is completely different.
He knows he is doing it, everyone is doing it: high-volatility and the potential for fast gains means erratic trading behaviour. Predict the market sentiment, and then predicting the behaviour of a cryptocurrency might just become a lot easier.
Lengthy research? No can do: there just isn’t the time. Exiting platforms and ‘market trend bots’? No chance: not only are they inaccurate; the repercussions of making the wrong move are punished tenfold in the crypto-sphere.
And then staring back at him is the app that everyone at the office is talking about: Daneel.
Jumping in, Satoshi notices something never seen before: Bitcoin is marked with sentiment score and trendings.
Upon first glance, the headline must have been right: ratings are down with a sentiment analysis score of only 6/10.
But two days later, the price of Bitcoin is back up. And as for the newspaper headline, this was not only contradicted by Daneel’s data; but also flagged as a ‘fake news’ story to watch out for. Even if the news has had a slight impact on the market, keeping a cool head and analysing all the parameters remains essential. As the tools are made available, it is up to the investor to identify opportunities.
Satoshi listened, and so should you.
Stay tuned:
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