Canadian mass media and information company Thomson Reuters (NYSE: TRI) has announced the launch of a new version (v3.0) of its MarketPsych Indices (TRMI) - a Bitcoin (Bitcoin) sentiment data feed, Reuters reported.
The corporation is to track and analyze chatter about Bitcoin on over 400 news and social media websites to help investors looking for an edge in trading the world’s biggest cryptocurrency, the company said.
Many analysts have linked online activity, for example Google searches for “Bitcoin”, with the price of the best-known cryptocurrency.
“News and social media are driving the investment and risk management process more than ever with the continuing rise of passive and quant-driven trading,” said Austin Burkett, Global Head of Quant and Feeds, Thomson Reuters.
Launched in 2012, Thomson Reuters MarketPsych Indices analyze news and social media in real time across 2,000 top global news sites and 800 global financial social media sites.
The data is designed to be seamlessly incorporated into both quantitative and qualitative analysis to help enable investment and other professionals to quickly discern patterns affecting their respective businesses.