How to predict cryptocurrencies with BIG DATA
In the last month we have seen how the crypto market becomes crazy, a lot of people are investing in Bitcoin and others in some altcoins. With the arrival of the holidays, the market is regulating some coin prices but others like ripple are growing to fast.
In this blog, I will try to explain how the cryptocurrencies prices can be observed and "predicted" with big data technologies. For sure, some of you have heard about Google trends and how the chart looks like the real price chart, but there is another source than can predict this prices with more accurate: Twitter big data. In this social network a lot of people are talking or "tweeting" about their investments and price tendencies.
So, we can collect this data and make some analysis to observe the behavior? Let see an example of Ripple [XRP] big data anlysis and the real price chart for day 27 of December (2017):
Both charts are very similar...now we can think that people interactions in this social network are extremely related with the speculation and market prices.
In the following example, we can see how if the people stop talking about Ripple coin, the coin prices goes down. This chart is for day 28 of December (2017):
I think that make this anlysis and predictions with user data is a big idea, hope to see the project move forward so this can help us in our investments.
Already donated some BTC coins to the project. In next few days I will publish more information about new conclusions and new charts.
Enjoy the read! contact me for any question!