rtmark
LearnBonds.com

eToro Launches Cryptocurrency Trading Strategy Based on Twitter Sentiment

If you follow the cryptocurrency space at all, you know that Twitter is a fantastic place for checking out news, prices, and the general sentiment behind different assets.

eToro, the “social trading and multi-asset brokerage company” is aware of this, and is putting out a self-described “trading strategy” for its cryptocurrency traders based on the information available via the social media platform. They’re calling it TheTIE-LongOnly CopyPortfolio, due to its partnership with the Tie analysis platform.

Guy Hirsch, the Managing Director at the United States side of eToro, commented on the collaboration:

“In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.”

Price-tied perceptions

Of course, this could only work because cryptocurrency market changes are so tied to user perceptions. According to the post, Tie’s platform takes in 850 million tweets a day, which provides it a relatively accurate sentiment of how people are viewing the market, one can conclude.

Interestingly, the Tie has had this strategy around since October 2017 and has been refining it ever since. The post notes that their algorithm has brought in an average return of 123% on an annual basis.

Click here to learn more about forex brokers and forex trading.

 

Disclaimer: Transacting in virtual currencies is subject to various risks, such as price volatility, and is therefore not suitable for everyone. Your capital is at risk. eToro offers only Crypto (real crypto no CFD) so only buy with no leverage, later on this year eToro will also offer real stocks for trading.

Trusted & Regulated Stock & CFD Brokers

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/