The technology universe has been augmented with the emergence of trending technologies like artificial intelligence (AI) and natural language processing (NLP). Consider a few years ago when AI was still there. Its job was merely to automate several functions and aggregate customer data to help companies forecast. But now several other components of AI and Natural Language Processing (NLP) have made it possible for organizations to undertake sentiment analysis and design campaigns that go with what the customer really wants.
CryptoMood is one of the few cryptocurrency data providers which uses AI and NLP technology to generate reports on market sentiments.
Image source: CryptoMood
The people behind CryptoMood are an eclectic team with extensive experience in Artificial intelligence, NLP, and sentiment analysis. Under the guidance of investors with a long history of FOREX and cryptocurrency trading, the cryptocurrency tools CryptoMood has been developing are unparalleled.
The importance of Sentiment analysis
Sentiment analysis is the automated process to decipher if a chunk of text is positive, negative, or neutral. It is a great way of determining the emotional trends that are expressed on several online platforms. Sentiment analysis holds importance these days because it provides a near-perfect analysis of how a trader, customer, or user feels about using that particular product or service. It is also virtually impossible for a human to manually go through every text and try to understand the sentiment behind it.
This is where CryptoMood’s sentiment analysis steps in with its automated procedures and well-defined evaluation-backed data for further use. It attaches a Sentiment score which ranges from -100 for negative sentiments and +100 for positive sentiments. Sentiment analysis uses a blend of AI and NLP as it is difficult for regular automated machines to understand human language. This software analyzes hordes of written text and gives every word or phrase a score using a standardized language database called Lexicons. The final score is obtained by adding and removing negative or positive of every word.
How does CryptoMood work?
CryptoMood has mechanisms to process data from more than 50,000 sources. This includes more than 10 aggregators, social media networks, forums, chat rooms, and hundreds of crypto blogs and trading networks. The organization’s crypto sentiment analysis uses complex AI algorithms to evaluate market sentiments and unravel the different trading signals.
Its foray into investing in emerging technologies gives the benefit of near-precise crypto market sentiments by tracking the largest crypto wallet movements and noteworthy cash-to-crypto conversions. CryptoMood sorts data on two modules namely trending and live. While trending highlights the most important data, Live shows the entire data set indefinitely into the past (for premium users). CryptoMood also provides its API for the business version to record highest quality market processed data.
With the help of free widgets, users can improve their experience with the feature. These widgets can be integrated on the intended platform and promise fast implementation. CryptoMood will soon launch its own Chatbot to address queries and assist customer inquiries round the clock. CryptoMood has become an innovative and a supplementary source for decision-making for thousands of cryptocurrency traders and investors to date.
CryptoMood’s AI-based sentiment analysis has the potential to change investment plans. Cryptocurrency traders can make effective trading decisions based on CryptoMood’s deep-set analysis. Check out their mobile app and terminal, they’re both free! Users who find big bugs or provide constructive feedback have the chance to get free premium memberships! You check out the CryptoMood terminal here.