CoinHirek
One possible origin for the adage “Buy the rumor, sell the news” is traditional finance. It does, however, also work flawlessly in the context of cryptocurrencies, which combine to create the newly formed crypto market. In the crypto market, which is driven by investor mood, media coverage—particularly that which revolves around regulatory moves, legal changes, or significant partnerships—has a significant impact.
It is commonly known that breaking news has an effect on trade activity. Any unfavorable news could start a cryptocurrency chain reaction and cause chaos on the market. On the other hand, good news concerning Bitcoin ETFs has the potential to push the values of the associated assets to all-time highs.
However, even seasoned traders may become confused by the abundance of information sources that provide daily news stories. It is humanly impractical to constantly monitor news sources and distinguish between fiction and fiction throughout the day. This is where innovation comes into play, assisting both novice and seasoned cryptocurrency traders in separating the wheat from the chaff and gaining a clear picture of the situation.
Sentix is a media sentiment analysis tool driven by artificial intelligence that can distinguish between fact and fiction and identify a clear relationship between price changes in cryptocurrency assets and media activity. Sentix is an AI-powered personal assistant for cryptocurrency traders that sifts through media and extracts relevant information from various news sources.
The AI solution’s primary job is to swiftly evaluate massive volumes of data from media sources and find media insights amidst the cacophony of noise created by the constant stream of news. Sentix neutralizes any manipulation of certain news websites, which is more significant.
The program may cluster news themes by analyzing the media landscape and grouping related articles together. This guarantees great precision and speeds up data collecting significantly. With Sentix, traders may make better selections and incorporate the media into their strategy.
Sentix analyzes more than 250,000 news stories and 9,000 tweets per day in addition to providing free instructional tutorials and storing historical crypto market data going back to 2014. Users receive updates on the most anticipated airdrops, significant coin actions, and graphical and numerical data analysis every 15 minutes.
Top news stories from 2023 that affected the cryptocurrency market
Sentix has examined the data for 2023 and presented the top nine events that had a significant impact on the cryptocurrency market, both positively and negatively. The list includes Grayscale’s request for the creation of a Bitcoin ETF and Sam Bankman-Fried, the former CEO of FTX, who entered a not guilty plea in late 2022.
These events, which range from high-profile legal proceedings involving important business personalities to regulatory actions and financial forecasts, have drawn traders’ attention and significantly changed the course of the market.
Why Should AI Be Used for Market Analysis?
Sentix’s AI engine is capable of extracting and analyzing meaningful content from a variety of sources, such as social networks, podcasts, and forums, in addition to news websites. Users can find objective and insider information in the form of numerical values because there is no human bias involved.
Crypto users can begin using Sentix for free after completing a one-minute sign-up process. The AI-powered market tool provides traders with the most up-to-date and pertinent information, eliminating the need for them to trawl through endless news feeds.
Comprehending the complex correlation between market dynamics and media mood can be the deciding factor in whether one succeeds or fails in cryptocurrency trading. Sentix, an analysis tool driven by artificial intelligence, is a major advancement in democratizing financial data by making it available and useful to a worldwide audience.
