Thomson Reuters and Marketpsych Launch Bitcoin Sentiment Index ChainB.com

nOutbursts Commentary: Given investors’ growing interest in the cryptocurrency sector and the growing complexity of the industry, some financial companies are beginning to seek to provide customers with a bitcoin index to help them make the right investment decisions. Following Fundstrat’s launch of the “Bitcoin Pain Index” last week, Thomson Reuters and Marketpsych launched a bitcoin sentiment index that will analyze information on hundreds of news and social networking sites to reflect the sentiment of the cryptocurrency market. .n
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Thomson Reuters Launches Marketpsych 3.0n
Thomson Reuters has partnered with “Marketpsych Data LLC” to announce the launch of a new version of the “Marketpsych Indices” sentiment data collection – including Bitcoin market sentiment analysis.n
nThe new “Marketpsych 3.0” software adds “more than 400 news and social media sites, mostly about cryptocurrencies,” to data feeds. Thomson Reuters said that each site will be viewed and scored in real time to understand “changing market sentiments and themes.”n
nAustin Burkett, an executive at Thomson Reuters, said: “With the increasing number of data-driven passive transactions, news and social media are more likely to drive investment and risk management processes than ever before.” He also pointed out that “the financial market is increasingly Complex, we also need to provide customers with the relevant data and tools to help them manage and analyze the data. MarketPsych 3.0 helps to provide another layer of analysis and added value for the investment process.”n
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Thomson Reuters launches cryptocurrency servicen
Thomson Reuters provides professional insights on traditional and emerging assets, and currently also publishes “Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash Prices”. In 2016, Thomson Reuters launched BlockOne IQ, a tool designed to allow traders to use their market data systems to analyze blockchain-based currencies.n
Just a week ago, Fundstrat executive Tom Lee had just announced a new bitcoin sentiment indicator called the Bitcoin Misery Index. In an interview with CNBC, he disclosed the index, saying that the index is currently at 18.8, the lowest since 2011.n
Tom Lee described the index as a reverse indicator. He said: “When the index was lower than 27 for the last four times, Bitcoin prices rose after 12 months.”n

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