Bitcoin has been going back and forth between the praisers who claim that Bitcoin will only continue to rise and doubters who believe the market’s going to crash. It’s hard to tell who is going to be right, but if it is the doubters, there are a lot of people who are going to lose a lot – unless of course, something was to warn them of any impending crash.
That’s the intention of the Bitcoin Bubble Burst app. The app was developed to scan Bitcoin markets, news, and social media platforms and to signal the user if any of these platforms indicate a potential market crash in the future.
The app provides real-time price change alerts to users by using algorithms based on Bitcoin price change data.
Could this really be the saving grace investors are looking for? Maybe, but it’d be best to view it with a grain of salt and investors may not want to use it as their main decision maker in regards to Bitcoin and its future. Any number of things could go wrong with the scanning or reporting system, and a large number of bad news reports could trigger sell-off messages on the app, and others like it, which could actually cause the very situation they are trying to predict.
However, developers are optimistic: “Utilizing sentiment analytics we can get a numeric picture of the current event. Our model learns which patterns are ‘odd’ and when to contact you via notification.”
If nothing else, the app and its counterparts will be useful in monitoring real-time data from a broad domain of exchanges and the worldwide trade of Bitcoin, and it will be good to have a regulated system for monitoring the very quick value changes of Bitcoin.
Featured Image: twitter