Social trading platform eToro has just launched a new crypto trading strategy based on Twitter sentiments, the company announced yesterday through its official blog.
The strategy, which has been named TheTIE-LongOnly CopyPortfolio, has been developed by eToro together with The TIE, a crypto data analytics platform.
This new strategy will allow crypto traders to benefit from Twitter sentiment to make gains.
The TIE has reported that its system analyzes over 850 million tweets per day and identifies the tone of conversations. After that, it opens trades based on positive sentiment signals on Twitter. Rebalancing is done algorithmically once a month using advanced machine learning techniques.
According to eToro, this trading strategy, which was launched in October 2017, has given investors a 281% return after fees.
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