Brave New Coin (BNC), a New Zealand research company specializing in blockchains, has introduced a new system for assessing the emotions of the Bitcoin community based on Twitter messages.
According to the BNC, the new Twitter Sentiment assessment system analyzes over 34 million Twitter feeds related to the bitcoin every week. The firm uses artificial intelligence algorithms that look for entries containing the words bitcoin, $BTC and BTC and others.
The BNC notes that user sentiment continues to be a significant factor in the price and dynamics of digital assets, and the new methodology is designed to track these sentiments. According to the BNC, it took 18 months of work to launch the Bitcoin Twitter Sentiment. The data is divided into seven categories – Opinion, Technical Information, Inside, Advertising, Bots, Macro and Hacking.
For the third week of January, the most frequent records were in the category Opinion – their number was 30.42% of all received data. The second place was occupied by the category Technical Information, while the third place was occupied by the category Inside the network (includes information on mining and hashrate).
BNC representative Pierre Ansaldi stated that the company is also launching community sentiment analysis tools for other crypto assets during the first quarter of this year.
Since last February, the U.S. stock exchange Nasdaq began broadcasting data from two crypto index developed by Brave New Coin.