TrakInvest launches AI-powered crypto price estimation tool

  • TrakInvest introduces cutting-edge tool allowing investors, traders and enthusiasts to estimate future pricing of cryptocurrencies through social sentiment and deep learning technologies. 

TrakInvest, a virtual social trading platform, announces the launch of its AI-powered price estimation tool for cryptocurrencies.

The new tool combines social media sentiment with cutting-edge deep learning methods to provide cryptocurrency investors, traders and enthusiasts with better price estimation.

It will be available from Monday 10 September via the TrakInvest website, as well being available for participants on the company’s TrakCryptoShow, the world’s first digital game show for crypto enthusiasts.

Until now, most price estimation tools for cryptocurrencies have been based on pattern recognition. TrakInvest’s AI tool however, is an actionable tool that gathers signals from not only a cryptocurrency’s structured data, such as price, volume and market cap, but also applies Natural Language Processing (NLP) algorithms to unstructured data as well, such as sentiment from social media channels. This data is then incorporated into deep-learning estimation models to provide customers with more accurate price points to help forecast cryptocurrencies for the next hour, day, week or even month.

The TrakInvest AI engine is unique in that it extracts and integrates social sensing signals  -both semantic and sentimental – from numerous unstructured data sources into a recurrent deep learning model for improved price estimation. This AI tool also uses deep learning, natural language understanding, and knowledge graph technologies to achieve this. The AI engine continuously learns with more interaction and data.

With the conclusion of a six-month closed beta phase, TrakInvest’s AI tool is now openly available to members of the TrakInvest community, who can purchase a subscription using Trak tokens. There are two versions of the tool; one for retail customers displaying estimated cryptocurrency prices, and a second version for institutions that allows customers to drill down into the actual data sources used to calculate price estimations.

The TrakInvest’s AI tool functionality has been developed by Dr.Partha Talukdar, who leads machine learning and AI at the Indian Institute of Science( India’s leading technical university), having previously worked with Google on NLP, data integration and cognitive science.

Dr. Talukdarsaid: “The TrakInvest’s AI engine employs the latest technology to estimate cryptocurrency prices using heterogeneous unstructured data and deep learning. To the best of our knowledge, this is the only engine of its kind and forms a unique resource for cryptocurrency investors.”

Bobby Bhatia, CEO at TrakInvest explained: “Once unstructured data was added to our models, we found we were able to achieve much better price estimations. For example, we found a positive correlation between the amount of code being uploaded to GitHub and the development activity around coins. We also monitor a number of other indicators such as the number of new digital wallets being created, and velocity between wallets.”

Bhatia added: “The range and ability to estimate will only improve over time because of the continuous addition of new data sources, ultimately providing customers with the potential to uncover real value in cryptocurrency markets. We are really excited about adding TrakInvest AI Price Estimation Tool to our suite of tools in response to the demand of our customers.”