Cryptocurrencies have received lots of hype and media coverage over the past few years, with more people beginning to take it more seriously as prices surge.
Startup company CoinAnalyst has made the process of entering the market much easier.
By using artificial intelligence and machine learning, the organisation is able to collect millions of data points across news sites, social media, and the web, to create indicators which help beginners and seasoned investors alike.
“We are trying to bring transparency to the crypto market,” CEO Pascal Lauria exclusively revealed to Ticker News. “We want to protect people, and this will help them to make better decisions.
“It helps to protect their savings, and make money at the same time.
“As crypto becomes more mainstream, you’ll need products like ours to help with trend and sentiment analysis for those assets.”
Lauria suggests people do their research before entering any financial transaction, especially one such as digital currencies.
“I strongly recommend to always research and analyse,” he adds. “Know what you’re putting your money on.
“Make sure that you feel comfortable and believe in it and even if it is not successful, at least you were behind the idea.
“Check out, the founders and see their track record.”
The CoinAnalyst CEO also believes there has been a changing nature directed towards one particular altcoin – Dogecoin – as it has turned from being a “joke” into something more.
“DogeCoin is not a scam,” Lauria asserts. “It was a joke, as there were no fundamentals behind it.
“So I wouldn’t call it a scam.”
Lauria also discusses how the Non-Fungible Token (NFT) market is based on two key principles: passion and creativity.
“NFTs have raised millions of dollars from certain art,” Lauria explains.
“So, we have a situation where we have products that are out of the creative economy and the future passion economy.
“Everything that’s created is done with passion. This means that sentiment is actually the key for the evaluation, because if people, you know, have passion for that image, or for that song, they’re willing to pay a lot of money for it.
“And if more more people demanding for it and talking about it, the more popular the item becomes.”
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