Earlier in the blog I often talked about the Exorde project. The developers of the project released the first product Exorde Index.
So, Exorde Index is a platform that provides very accurate price forecasts for bitcoin and several other popular cryptocurrencies. Exorde Index trains its prediction models on a lot of data taken from the Internet to provide estimates of cryptocurrency prices over the next hour.
For now, the product only predicts the price of Bitcoin, but other altcoins will be added soon.
The whole idea behind the Exorde index is to provide accurate price forecasts and sentiment analysis to allow traders to make consistent profits by making better trading decisions.
Exorde’s decentralized community plays an important role in collecting and analyzing large amounts of data, while logic suggests that decentralized communities are less optimal than centralized competitors.
The Exorde protocol allows developers to retrieve publicly available information from the Internet and process that information in a decentralized data pipeline that produces output data graphs, linking all similar data and facts together. The tool extracts publicly available information from social media posts, press articles, news summaries, analytical articles, photos and videos.
Exorde does an excellent job of collecting data in real time because of its extensive network and community, which processes millions of social media posts every day.
The protocol has a variety of potential uses, from filtering fake news to finding the best upcoming NFT dump. However, one key feature is providing highly accurate BTC price forecasts using the Exorde Index.
Along with highly accurate bitcoin price predictions, the platform offers a system for tracking the sentiment of crypto-assets across the network. The data extracted from the Exorde protocol takes information from social media to estimate future price direction based on market sentiment.
The protocol uses natural language processing (NLP) technology to analyze content and assess sentiment in social media posts. NLP technology can discern a range of human emotions based on language patterns and then uses that information to predict the price of BTC.
The sentiment tool allows users to understand current sentiment across a range of coins to be more informed about where the industry is headed next. If the sentiment is worrisome, we can expect prices to decline. Conversely, if the sentiment is optimistic, we can expect prices to rise.
Currently, the sentiment tool provides results from over 28 different trading sentiments;
The great thing about the Exorde Index is that the decentralized model allows for incredibly fast data collection, allowing for real-time data analysis on a range of topics. In addition, the data is not limited to a single geographic location or language. Instead, Exorde can collect data from all languages, meaning that the sentiment analysis provided is a global overview of the crypto market.
The team plans to release a unique decision support tool specifically for traders. The tool will provide price fluctuation data for each token and sentiment to help traders make more informed decisions. In addition, one of the best features of the tool is its ability to alert traders when certain fundamental events occur in the market.
For example, if a tweet goes viral and causes a significant price movement, the decision tool will alert traders to that tweet and allow them to make a trading decision.
Overall, Exorde Index’s bitcoin price prediction tool is extremely powerful and will help traders make more consistent profits in their trading. Future features of this tool are expected to take the platform to the next level, giving traders more usefulness and indicators for analysis.
Right now, anyone can take part in a rewarding testnet and help the project gather and analyze information.
EXORDE LABS:
Website: https://exorde.network/
Exorde Index:
https://exorde.io/
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