Cryptocurrency is a unique beast, and while traders can throw technical analysis and financial models at the markets and see what sticks, SynQ prefers to go a different direction.
While other platforms will throw around “Sentiment Analysis” like a mysterious piece of magic, SynQ was developed with the understanding that hard-earned dollars were on the line.
Not Just a Dashboard
SynQ started as a serious of modeling problems with gauging consumer interest in the cryptocurrency market. The problems faced stemmed from the characteristic volatility of a relatively low-market capitalization ecosystem, with finite supply, and alarmingly limited choices. The conclusion: financial models just don’t fit.
Sentiment Data is important for understanding the consumers, however, each asset has subsets of consumer-types paying attention to different assets for different reasons at different times, so simply counting the number of times Ravencoin, RVN, $RVN, #rvn, #ravencoin were mentioned on Twitter, and scraping other sites to improve that data set, we’ve built a proprietary method for classifying assets and the consumers interested in it.
It’s Not Magic
Contrary to what our initial tests look like, it’s really not magical. SynQ’s modeling infrastructure is rooted deep in business intelligence, understanding on consumer behaviors, psychographic analysis, sentiment data, and historical trend analysis.
Leveraging market adoption rate, market capitalization, project maturity, among a number of other floating point data sets available to cryptocurrency projects, the founders of SynQ pieced together common baselines, created a linear approach to measuring the “weather” of an asset, and have created a predictive model that is alarmingly accurate, but it’s still not magic.
The unique aspects of cryptocurrency is transparency. Movements of assets at the ledger-level, exchange activity, community engagement, reaction to press, action from noise, and the speed at which the efficacy of all of these factors can be seen reflected on cryptocurrency exchanges allows SynQ to build a predictive model and calculate probabilities in near-real-time to get ahead of market movements, by (currently) up to 24 hours.