Cryptocurrency trading can be a fickle mistress – and if you hang out in Telegram channels long enough you’ll see these questions asked incessantly:
When moon? Why dump? When new exchange?
Well, a new service has opened up that can help answer in real time. Coindar is primarily a web-based cryptocurrency calendar for your desktop – but one that has a direct line to the developers of blockchain projects. This creates a rather ingenious ecosystem that allows teams to add tech updates, meet-up information and other milestones, meaning that the information is primarily from official sources.
While a calendar is great – the site also offers some other dynamic ways to gauge the temperature of cryptocurrency sentiment in real time, perfect for those constantly trading.
Cryptocurrencies, in general, rely heavily on Twitter to spread information – but often the most critical updates come from key developers with low follower counts, meaning critical news can often be buried, only to be found when it’s too late to effectively make that trade.
Coindar’s social media analytics tool could prove critical in predicting price action. It follows over 1,600 blockchain developers‘ profiles to provide you with a complete map of crypto-Twitter.
It tracks tweets, identifies the related coin and gives statistical analysis of just how much buzz there is surrounding a particular project at any one time. The service also ranks cryptocurrencies on the size of their communities, so you know if your camp is growing – especially helpful to compare your favorite coin to it’s competitors – although some data, such as Telegram and Twitter user counts, can be easily skewed by the large number of bots that exist on such platforms.
Today, for example, I’ve learned that buzz is starting to grow around Vertcoin again – Twitter activity is up 14 percent on yesterday.
Some of the biggest players in the industry manage their cryptocurrency investments using these kinds of analytics. Back in April, Pantera Capital Management CEO Dan Morehead revealed that this is exactly the kind of information his firm uses – Twitter feeds and Github commits – to determine the best market plays to make.
After being armed with all this hot insider information, you can even head to the Forecasts section of the website and submit your calls. The system is automatically updated from market data to reflect how accurate they were.
If they come true, you’ll move up in the ranks, making it a useful platform to gauge just how intuitive your investing has become. It also doubles as a great resource with which to see how others might be considering trading.
If you think this might be a great addition to your cryptotrading utility belt, head on over to Coindar’s website to create an account and start exploring – you might find a new gem that’s just about ready to blow.