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eToro Offers Cryptocurrency Portfolios Based on Twitter Sentiment

Managing and maintaining a cryptocurrency portfolio requires a lot of effort. There are a few golden rules to keep in mind while doing so. Never relying on emotions is an obvious tip. Not listening to social media and its trends to determine one’s next investment should also be rather logical. eToro, a cryptocurrency service provider, seems to have a completely different opinion in the latter regard. Twitter and Financial Advice Any cryptocurrency user who has ever looked on Twitter may have noticed there are thousands of self-professed influencers. These users will gladly tell others which currencies they should invest in at the right time. Following that advice blindly is usually a solid way to sustain severe financial losses. Albeit not all advice is bad on social media, most people have an agenda of sorts and are looking for novice traders who follow their guidelines without asking too many questions. Despite the negative aspects of following cryptocurrency advice on Twitter, it remains a source of information for a lot of people. A lot of technical analysis charts and details are shared on social media for anyone and everyone to enjoy accordingly. Most users have now learned to look past the posts which are shilling specific currencies. However, it seems companies are only now paying attention to what is going on with this social platform. So much even that they will try to commercialize this data source.  The “Twitter” Crypto Portfolio Big was people’s surprise when eToro announced it would launch a brand new service. More specifically, the TheTIE_Longonly CopyPortfolio is a very unique offering in every single way. It offers users an option to invest in various cryptocurrencies in exchange for a minimum buy-in of US$2,000. In exchange for this vast sum of money, users will have their portfolio rebalanced based on how the supported currencies are performing on Twitter. This is made possible thanks to eToro partnering with The TIE, a firm specialized in data analysis and social media activity.  Rather than just taking the Twitter information at face value, there is a method to this madness. An AI system will sift through all of the data accordingly and generate an optimal cryptocurrency portfolio. For the time being, there are only a few cryptocurrencies included, including Dash, EOS, Ethereum Classic,  XRP, and MIOTA. Other currencies that are officially supported include Bitcoin, NEO, Stellar, Litecoin, ZCash, Cardano, Ethereum, and Bitcoin Cash. According to sources close to the matter, the rebalancing will occur every single month. That might be a rather long delay, given how the cryptocurrency industry changes on a nearly hourly basis.  Can it Make Money? The obvious question is whether or not such a portfolio will effectively make its users money over time. Basing one’s investment of several thousands of dollars on Twitter activity sounds like a sure recipe for disaster. That being said, the combination of social sentiment and artificial intelligence can yield some surprising results over time. Users who decide to try this new offering by eToro may be in for a rough, albeit potentially surprising ride. It is important to make cryptocurrencies more appealing to regular consumers. Ventures like these may pave the way for doing so, in the long run. Image(s): The post eToro Offers Cryptocurrency Portfolios Based on Twitter Sentiment appeared first on NullTX.

eToro Launches Twitter Sentiment Trading Portfolio

eToro, the Israeli-based brokerage firm, has launched a new portfolio that uses AI to analyze Twitter for the latest social media perceptions of digital assets. The tool, which is called TheTIE-LongOnly CopyPortfolio, is a collaboration between eToro and cryptocurrency analytics firm The TIE. According to The TIE, the platform’s “proprietary machine learning and language processing models ingest 850 million tweets per day, quantifying the positive and negative tone of conversations on Twitter.” The platform then leverages this data and allocates trades based “on positive sentiment, algorithmically rebalancing once per month.” The system is available to eToro ... ﾿ Read The Full Article On Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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eToro Unveils New Crypto Portfolio Based on the Algorithm of Twitter Mentions

Coinspeaker eToro Unveils New Crypto Portfolio Based on the Algorithm of Twitter MentionsGlobal investment platform eToro has announced its new sentiment-based crypto portfolio offering called TheTIE-Long-Only. For this, eToro has joined hands with a data analytics platform The TIE which can formulate an algorithm-based investment strategy.The input data for this sentiment-driven trading platform will be Twitter mentions. The social media platform Twitter has been the main platform for discussing crypto activities. Several popular analysts and companies share their trading strategies on Twitter.Today we're excited to announce our latest CopyPortfolio partnership with @TheTIEIO. Ever wanted to trade based on Crypto Twitter sentiment? Well, now you can.— eToro US (@eToroUS) October 15, 2019The strategy implemented by TheTIE includes trade opening only on the positive sentiment signals available on Twitter. Its mechanism uses advanced machine -learning techniques with rebalancing done on monthly basis algorithmically. Guy Hirsch, US Managing Director of eToro, said:“In traditional markets, retail investors have historically lagged behind the ‘smart money’ when it comes to the data and tools available to them. This puts individual investors at a major disadvantage. In the spirit of crypto and decentralized technology, we believe that offering institutional-grade tools to every investor will level the playing field and democratize investing.”Algorithmic Trading Based on Historical OutperformanceThe official blog post from eToro mentions that the TIE has developed “algorithmic cryptocurrency trading models powered by the wisdom of the crowd which has achieved significant historical outperformance and reduced risk as compared to an equally weighted benchmark”.eToro believes that the crypto fundamentals are still on a maturing phase. For now, they have no dividends, revenue, or debt. Thus, social sentiments based on people’s perceptions play an important role in assessing cryptocurrency price movements. Joshua Frank, CEO of The TIE, said:“eToro is well-known as a community where some of the smartest crypto traders share insights and strategies. We’re proud to offer investors of all experience levels a way to employ artificial intelligence and machine learning in an automatically-executed strategy, unified with eToro in our goal to make traders more active and informed.” According to the media, TheTIE-LongOnly portfolio selects any of the 13 different cryptocurrencies for algorithmic trading. These cryptocurrency options include BTC, ETH, XRP, IOTA, BCH, NEO, ETC, DASH, EOS, XLM, LTC, ZEC and ADA.However, the main challenge for TIE’s algorithm will be filtering the real tweets from the fake ones. Frank knows that a major of the Twitter activity is fraudulent due to the presence of bots. “We’re actually eliminating about 90% of tweets because we think they’re coming from bots or people trying to manipulate the market. We have to identify and assess the relevance of each individual tweet,” said he.eToro Unveils New Crypto Portfolio Based on the Algorithm of Twitter Mentions

eToro Joins The TIE and Launches Portfolio with Predictive Sentiment

eToro, a social trading network, has decided to ramp up its cryptocurrency offering. They plan to do this with a new partnership with The TIE, a data analytics platform with a focus on cryptocurrencies. This new joint venture will be solidified with a new product: TheTIE-LongOnly CopyPortfolio. It’s a bit of a mouthful to say, but it serves its purpose well. The CopyPortfolio provides retail clients within eToro access to a sentiment-based, algorithm-driven investment strategy. In order to better predict the value of a currency, The TIE’s team, experienced as they are in data mining, developed a range of sentiment indicators and social insights. This new product tracks millions of different data points and converts professional news into quantitative analysis. It allows investors to identify emerging patterns across their relevant digital assets and enables them to trade with better knowledge because of it. This new TheTIE-LongOnly CopyPortfolio strategy will focus on cryptocurrencies. It will algorithmically predict whether or not a digital asset will rise or fall due to sentiments rather than market statistics. It will read the immense amount of social media content to create buy or sell signals for various crypto assets. Josh Frank, CEO of the TIE, explained that in things like Crypto, the only real thing that moves is its supply and demand. Because of that, the TIE has set out in the development of sophisticated solutions. These solutions will be used for things like hedge funds to help value and trade asset classes. eToro isn’t the first exchange to give this sort of technology, however. Thomson Reuters launched a new form MarketPsych Indices earlier this year. This new upgrade included sentiment data for the top 100 forms of cryptocurrency. The intended goal was to encourage transparency and efficiency for virtual asset investors across the globe. Sentiment Analysis: Emotions Over Number It’s a lot more complicated than the explanation does it justice, but sentiment analysis is, in essence, the use of machine learning within the investment environment. This technology searches through various forms of social media, monitoring for the volume of relevant news. Within the news, it monitors the mixture of positive, negative, and neutral comments, and displaying it as a prediction over whether or not the product’s value will rise or fall. It may seem strange to think about, but investors are also just human. They are not emotionless entities, and because they have emotions, those emotions will be used to make objectively strange choices. More often than not, the emotional state of the investors will determine whether a stock value will fall or not. Sentiment analysis aims to try and quantify this, so an unexpected social movement doesn’t catch an unaware investor flat-footed. Entire currencies rise and fall because of rumors and fear. The practiced investor doesn’t jump at every shadow that follows them. The intelligent investor finds out how to capitalize on it to make even more money. The post eToro Joins The TIE and Launches Portfolio with Predictive Sentiment appeared first on - Daily Cryptocurrency and FX News.

eToro’s New AI Technology to Aid Retail Cryptocurrency Investors in Weighing Market Sentiments

Leading social trading and multi-asset brokerage eToro is implementing artificial intelligence into the world of cryptocurrency trading for ease of trading and risk management. With a goal to improve trading experiences for its retail investors, eToro’s new AI tool which was launched today is built to work hand in hand with Twitter’s database in order to analyze the Cryptocurrency market sentiments via tweets. eToro’s Partnership with TheTie In collaboration with TheTie, a leading Cryptocurrency data analytic firm whose involvement with the Social Media Analytics market gives it access to more than 800 million tweets on a daily basis, eToro’s TIE-LongOnly CopyPortfolio will be made public to its user base as it garners Cryptocurrency related topics, both positive and negative to create a “valuation metric” for investors. Speaking on the new development, the executive officer of TheTie explained that its involvement in creating this valuation data is due to the fact that the value of Cryptocurrency is mainly influenced by demand and supply and in a bid to create reliable solutions for hedge funds, it took to the development of what he terms a “sophisticated solution”. Speaking on the influence Twitter has on Cryptocurrency and trading choices, TheTie also revealed that about 50,000 tweets made on a daily basis are centered around Cryptocurrency, Bitcoin precisely and 50% of these tweets stem from non-bot accounts. How it Works Once in every month, the algorithm used will recycle positive Cryptocurrency conversations on Twitter. Through the employment of machine learning and natural language, the portfolio will analyze relevant tweets on Cryptocurrency trading which will result in a sentiment score. eToro’s overall goal is to eliminate the limitation that retail investors had previously faced with investment. With the implementation of this tool, it is expected that the investment strategies it will birth, which was previously only available to hedge funds will now be open to retail investors as well. eToro’s managing Director Guy Hirsch conclusively affirmed his trust for the tool saying; “A lot of people are crypto-curious, we believe with a tool like this, they will be much more comfortable.” The post eToro’s New AI Technology to Aid Retail Cryptocurrency Investors in Weighing Market Sentiments appeared first on ZyCrypto.
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CFTC Chairman: commodity can become security and vice versa

Commodity Futures Trading Commission (CFTC) chairman Heath Tarbet confirmed that a security can turn into a commodity and vice versa.  Tarbet made this remark on Monday at DC Fintech Week, when asked about a comment he made earlier this month that ether is not a commodity. At the conference, Tarbet emphasized that the Securities and Exchange Commission (SEC) is the entity that determines when something is a security, while the definition of commodities, which fall under the CFTC's jurisdiction, is broader.   Meanwhile, the SEC has dealt out a string of crackdowns on initial coin offerings (ICOs) of tokens that it deems as securities.   Earlier this month, the regulator filed an emergency action against Telegram and TON Issuer for failing to register the sale of their Gram tokens, which the SEC regarded as securities. This filing follows a settlement between the SEC and, the firm behind the EOS blockchain, for conducting an unregistered ICO. 
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Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility

The Bitcoin mining giant Bitmain has just announced that it will work with a Canadian startup to help create a facility with potentially 300MW of power in Texas. DMG Blockchain Solutions Inc. will be providing the Chinese firm with project management services. The news comes less than a week after a different startup announced its intentions to also bring Bitcoin mining to Texas. Layer 1 aims to create an all-in-house mining facility and has received funding of $50 million to help it achieve this. Another Massive Mining Operation for Texas According to a press release, Bitmain has partnered with a Canadian startup to help it create a massive mining facility in Texas. The Chinese hardware manufacturer will be working with DMG Blockchain Solutions Inc. – a self-described “diversified blockchain and technology company.” DMG states that it was chosen following an extensive selection process. Bitmain initially started construction of a 25MW mining farm on a 33,000 acre site in Rockdale, Texas, last year. The firm has now announced that it will be at least doubling its size with the help of DMG. The site will be powered with electricity sourced from the Electric Reliability Council of Texas (ERCOT). The CEO of DMG, Dan Reitzik, stated the following of the deal between the two companies: “Being chosen by the world’s leading bitcoin mining company is a great testament to the capabilities of DMG’s mining team. Over the past several months, Bitmain visited many large facilities throughout North America including DMG’s flagship facility in British Columbia, Canada.” The release says that there is currently 50MW of power available for the planned Texas site. There is also the potential to increase this to 300MW. This would make it one of the largest Bitcoin mining facilities on the planet. DMG says that it will be handling management of the new facility but will not be adding to the funding of the project. Sheldon Bennett, COO of DMG, commented on the firm’s suitability for its new management position: “Having led large projects in Alberta and recently completing DMG’s 60MW facility, this 300MW facility is an exciting opportunity for DMG to truly demonstrate economies of scale. While the task of managing what we believe will be the world’s largest bitcoin data centre is daunting, we are confident that together with Bitmain, we will complete on time and on budget.” Don’t Bitcoin Miners Like the Cold? The news follows the recent announcement by another Bitcoin-focused startup. Layer 1, launched in 2018, originally positioned itself as an “activist fund for cryptocurrencies.” However, last week the firm announced that it had just completed a $50 million funding round. Amongst those backing the venture is US entrepreneur Peter Thiel. Layer 1’s plan is to perform almost all tasks relevant to the operation of a Bitcoin mining facility itself. This not only means manufacturing the chips but also creating a power substation and developing advanced cooling methods to deal with the intense Texas heat. Typically, Bitcoin miners have preferred cooler climates for their operations. This allows them to save money on systems systems needed to cool hundreds if not thousands of powerful computer systems working day and night in the same space. Bitmain’s Rockdale Lead Project Manager, Clinton Brown, explained why firms were starting to turn to Texas for Bitcoin mining: “We are excited to launch this facility, which is significant to Bitmain’s global expansion plans. The stable and efficient energy resources in Texas are fundamental to the inevitable scale of growth for the cryptocurrency mining industry.”   Related Reading: Russian Scientists Fined for Mining Bitcoin on Hijacked Supercomputer Featured Image from Shutterstock. Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility was last modified: October 21st, 2019 by Rick D.The post Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility appeared first on NewsBTC.

Bitmain’s Jihan Wu Talks Mining and Industry Growth With’s CEO

At the World Digital Mining Summit in Frankfurt, Germany,’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin ETF Proposal A Virtual Economy at Work Approaching Critical Mass The World Digital Mining Summit (WDMS) is a two-day mining conference that hosts an assembly of industry leaders, mining rig manufacturers, cryptocurrency pool operators, and other individuals passionate about crypto. During the event,’s CEO, Stefan Rust, had the privilege of sitting down with Bitmain cofounder Jihan Wu and discussed a wide variety of subjects. At first, Wu explained how he got into Bitcoin and that while working for an investment firm, he happened to read something about Bitcoin and found it “really interesting at that time.” After looking into it for two days straight he decided that bitcoin was a good idea. Wu was actually the first person to translate Satoshi’s Bitcoin white paper into Chinese for residents living in the region. “I was the first one to translate the [white paper]. At that time in the Chinese media said Bitcoin was either a scam or it does not work,” Wu explained to Rust. “I happened to understand economics and some high-level principles of computer science so I knew [Bitcoin] works in both economic ways and in computer science ways. So I translated the white paper and tried to get more positive feedback from Chinese social media.” While recalling his old QT wallet, Wu emphasized that it’s been an amazing journey. “I still remember back then no one knew about bitcoin and right now there are 20 million or 40 million users around the world and almost everyone now more or less have heard about bitcoin — I believe there are actual users getting involved in the cryptocurrency economy and those [individuals] are really starting to use cryptocurrencies for payments. A way to store their cash account — I believe this kind of user base will increase more and more.” Wu continued: This is a virtual economy at work and it’s quite difficult in the beginning but I think we are almost near critical mass. The Bitmain cofounder remarked that he believes the 40 million crypto users globally had initially stemmed from investor types, but nowadays he sees more ordinary people joining the economy and “especially young people.” “[Individuals] are really pushing cryptocurrency into the local payment network and people start to use it,” Wu said. Rust also brought up spending bitcoin cash (BCH) in Slovenia where there are hundreds of merchants that accept digital assets for products and services. “Lots of people still today believe [Bitcoin] is undoable or it’s out of their imagination how cryptocurrency can be really adopted by real life use cases,” Wu replied. “I think it’s a miracle, I think it’s amazing and lots of miracles are happening nowadays.” Bitmain Continues to Produce Next Generation Mining Rigs and Chips After discussing cryptocurrency adoption, Wu also explained how Bitmain was doing this year. “After the bottom of the bearish trend last year we’ve seen a very fast recovery in the money industry and we can see the hashrate growing very fast. Bitmain’s sales volume increased a lot and we released a new generation of mining rigs and mining chips.” Wu detailed that the company also released new artificial intelligence (AI) chips. He further explained that Bitmain’s mining pools mined different cryptocurrencies and remain top-ranking mining pools. Wu stressed: It’s a good year for Bitmain. Additionally, Rust and Wu talked about regulations in China and how roughly 60% of the world’s hashpower is located in the country. The two executives discussed the possibility of China banning bitcoin mining and how the Chinese government is dealing with oversight. The Bitmain cofounder and CEO conversed about a slew of other subjects like the ecological impact of bitcoin mining, the reward halving, and a lot more insights from someone who’s seen the cryptocurrency mining industry grow immensely, first hand. If you want to check out our exclusive interview with Bitmain’s Jihan Wu, check out the video below. What do you think about Jihan Wu’s perspective of the mining industry and cryptocurrency ecosystem? Let us know what you think about the interview in the comments section below. Image credits: Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post Bitmain’s Jihan Wu Talks Mining and Industry Growth With’s CEO appeared first on Bitcoin News.
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BANK OF AMERICA: Companies are crushing earnings season so far — but the firms missing forecasts are being punished more than usual (BAC)

Third-quarter earnings season is a couple weeks underway, and Bank of America Merrill Lynch analysts found that companies that missed sales and profit expectations are getting hit more than usual in next-day trading. The companies that fell short of expectations for revenue and earnings underperformed the S&P 500 by 3.9 percentage points, the analysts found, compared to the 2.4 percentage point historical average. The worse-than-usual performance by such companies suggests investors may not be confident enough in long-term outlooks to forgive third-quarter performance, Bank of America said. Visit the Business Insider homepage for more stories. Third-quarter earnings season is underway, and the performance of 75 S&P 500 companies to already report brings fresh insight into investors' economic outlook. Of the companies to report, 43% have beaten analyst expectations for both revenue and earnings, according to Bank of America Merrill Lynch analysts. The figure lands slightly above the second-quarter average of 41% and the year-ago average of 40%. Yet the companies that missed analyst estimates in both categories were clobbered more than usual in public trading, underperforming the S&P 500 by 3.9 percentage points in next-day trading, the analysts found. Historically, companies underperform the index by 2.4 percentage points when they miss sales and earnings estimates. Read more: Goldman Sachs says these 5 trades can help investors make a killing during a crucial earnings season The companies beating both estimates outperformed the index by 1.6 percentage points, falling in line with the historical average. The worse-than-usual punishment could reflect a lack of long-term confidence among traders, with third-quarter misses signaling a prolonged downturn. The analysts also found mentions of words like "better" or "stronger" against "weaker" or "worse" hitting the lowest gap since 2009, which could be a result of continued trade tensions and souring global economic outlook. Earnings of the 75 companies to report were 2% above consensus estimates, with healthcare and consumer discretionary companies delivering strong beats. Banks performed in line with estimates despite macroeconomic indicators warning otherwise and recent Fed rate cuts squeezing profit margins. The current trends are subject to change, especially with 36% of S&P firms slated to report their third-quarter earnings in the week starting Monday. Mega-cap stocks like Microsoft and Amazon will announce their latest figures, and more than half of communication services and energy companies will report as well. Now read more markets coverage from Markets Insider and Business Insider: Wall Street is sounding the alarm as a key source of stock-market buying evaporates The Fed's $60 billion monthly cash injections aren't enough to solve recent money-market stresses, JPMorgan says Billionaire Howard Marks gives his best advice for navigating an anomalous market where 30% of the world's debt has a negative yieldJoin the conversation about this story » NOW WATCH: A 45-year-long study discovered trends in successful hyper-intelligent children
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