Bitcoinbarometer is subject to major improvements to become the Bitcoin forecast of your choice!
Bitcoinbarometer is subject to major improvements to become the Bitcoin forecast of your choice!
Welcome to Bitcoinbarometers Forecast, the first, the original and the only of its kind!
The aim of this service is to not only to deliver you a steady forecast for Bitcoins price movements, but also to raise awareness for the importance of knowing when is a good time to invest or not to invest. My service combines the analysis of some of the best analysts in the cryptocurrency sphere. If the short comparison from this blog is not enough, simply go to the analysts profiles and receive more detailed informations on when is the best time to ladder in.
There is constantly flowing new money into the cryptomarket and with money come new people who want to get a share of the profit pie. Though, not every new investor has a trading background and therefore relies on informations brought by others to them to achieve something. The Bitcoinbarometer Forecast Service is the first and only of its kind, wether it is on Steemit or on other Website. There is no other service, that is comparing so many different analysis to receive the most likely outcome!
That is why I am here for, to serve you the best forecasts for the mother of all Cryptocurrencies, Bitcoin!
Changes to the Voting System
Bitcoinbarometer is constantly evolving to deliver the most likely trend towards bitcoin is heading in the upcoming hours.
To achieve that, there will be made some changes regarding the overall counting system and additional analysis types will become implemented.
Time has shown, that there needs to be a more complex counting system than just one vote for each analysis of each source. For example Technical Analysis made by people with years of experience in reading and interpreting charts (Haejin) represents a stronger statement than the average price tendency of each weekday calculated through data of previous weeks (Cointracking.info). Therefore, from now on, there will be 3 different levels:
- Level 1: Analysis algorithms that estimate forecasts based on data from previous timeframes. (Bitcoinforecast.com, Cointracking.info) Level 1 corresponds to 1 bullish/bearish/neutral count
- Level 2: Indicators, that are derived from realtime candlestick charts and trading data etc. (Tradingview.com, Investing.com) Level 2 corresponds to 2 bullish/bearish/neutral counts
- Level 3: technical analysis made by people with professional knowledge and opinions (Haejin, Economies.com) Level 3 corresponds to 3 bullish/bearish/neutral counts
That are gonna be 21 counts in total, which can either be bullish/neutral or bearish
Adding new Sources
Furthermore, the past two weeks have shown that 6 different sources are better than 1 source to predict the most likely price tendency Bitcoin is heading to. Nevertheless, I feel like even 6 sources are not enough to gain a steady price prediction method, so there will be added another few analysis from different sources. There will be at least one new analysis of each level, except for level 3, there will be 2 new sources. The reason behind it is to become a constant forecast, even when some of my sources take a break for some days, I want to be able to compensate it and still deliver you trustworthy Bitcoin forecasts. So if two sources of level 3 would be missing for today, we would still have 2 analysis of professional analysts left, which is quite nice. Lets see how 10 analysis in total with the new sources will play out!
New Sources:
Till now, there was no sentiment analysis of the people included in this blog, That will change with the follow two new sources:
- Level 1: Another chart from cointracking.info represents the interest of Bitcoin, measured on the amount of google searches including the phrases „Bitcoin“, „BTC“, „Blockchain“, Cryptocurrency“ and „Ethereum“. This Chart gives an overall tendency of interest in Bitcoin and Co. of the people in the last 30 days.
- Level 2: This Sentiment tool is provided by plus500.com, it shows the actual sentiment of their customers. Time will tell, if this tool presents a reliable source or not, we will see.
- Level 3: Sarah Jenn from newsbtc.com: Sarah Jenn has been involved in the cryptocurrency space since the very beginning. She provides steady technical bitcoin analysis, day by day. Since Sarah is not only taking chart patterns and Elliot waves theory into consideration when predicting the future, but rather is making use of economic factors and news to estimate the Bitcoin Price trend for today. I hope her analysis will be a good contrast to Haejin’s, as he is more focused on the Elliot Waves and chart pattern recognition.
- Level 3: May I introduce @Cryptopassion to the court! He is a well known person here on Steemit and stands out through constantly good chart analysis every day. I’m pleased to pick up his Bitcoin analysis and compare it to the others.
Implementation of a success/failure statistic:
Everyone likes to see results, so do I. To make the forecast results more transparent, there will be a short section of a success / failure statistic in every Bitcoinbarometer forecast. It will be measured on the following rule:
- If the price of Bitcoin is closing higher than it started and Bitcoinbarometer forecast was Bullish, it is a success
- If the price of Bitcoin is closing lower than it started and Bitcoinbarometer forecast was Bearish, it is a failure
- …
Opening price will be taken when the daily post goes live, closing price will be taken at 9pm in the afternoon CET.
That's it for now, lets see how the new system will perform in the following weeks, all changes announced in this post will be integrated till tomorrow!
If you like the idea and found this helpful, then consider to upvote, resteem and hit the follow button in order to keep this service alive and make it more popular so everyone is able to make use of it!
“Bitcoin is the Sun of the Cryptosphere, it’s always in the center of all movements.”
If you like the idea and found this helpful, then consider to upvote, resteem and hit the follow button in order to keep this service alive and make it more popular so everyone is able to make use of it!
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Nice post! I upvoted and followed you. Can you check my last blog post about crypto: https://steemit.com/cryptocurrency/@cryptoizotx/crypto-market-sentiment-update-december-3-2017 ?
So usefull, KEEP AS THIS!!