Cryptocurrencies continue to grow in popularity, and have proved themselves to be lucrative investments. However, like stocks, it can be difficult for an inexperienced trader to know when to buy and sell crypto. Cryptocanary is a tool that helps solve this problem, using the power of Twitter.
Twitter is a extremely popular social network - with 330 million active users in the third quarter of 2017, and 500 million tweets sent daily, it reflects the current events and trends of the world through its data.
Analyzing Twitter posts in realtime, Cryptocanary takes all tweets relevant to certain cryptocurrencies, and runs them through Google's natural language processing API to identify a sentiment value. Putting together the data from a large volume of tweets as they roll in, an estimate of the net sentiment towards these cryptocurrencies is found. Canary runs a crypto trading strategy using these trends in hopes of making a profit.
Currently, Bitcoin and Etherium are supported.