The “Holy Grail” of trading is knowing something is going to happen before it happens – so Gordon Gecko’s listen up. The world over, analysts investors and traders are always looking to find the best way to be more sure of what tomorrow brings, with black boxes churning through petabytes of data to find the thinnest thread of a chance of doing so. But whether its fundamental trading, technical analysis or a combination of both – they are missing out on one key metric – “Social Data” – having their fingers on the pulse of the crowd behind the markets.
Bitcoin and Crypto’s are like no other currency or asset out there – they are the penny stocks of today and instead of moving on the machinations of a Wolf of Wall Street boiler room, they move on the whims of everyone and anyone as well as the charts of the technical analysts and the press.
Technical Analysts pour over charts attempting to uncover the hidden meaning in Pythagorean riddles of golden ratios, Fibonacci fans and Elliott Waves in the hope of finding a pattern. In this way Technical Analysis often becomes a self fulfilling prophecy with the markets being led blindly
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