Any transitional period is characterized with uncertainty and crypto investors would appreciate to have some clues as to where the markets are going from here. Often the expectations of other traders are the best indicator. Buysellhodl is a platform that can give you predictions based on the opinions of people like you.
App Ranks Cryptocurrencies Based on User Sentiment
Buysellhodl has developed a free mobile app for both Android and iOS devices. It is quite popular and enjoys mostly positive reviews from cryptocurrency holders. The software aggregates sentiment data and produces price predictions based on the inputs of its users, including experienced community members.
When you download and install the application on your mobile phone, you’ll be able to get real-time price predictions for numerous cryptocurrencies including bitcoin (BTC). It classifies the assets in three categories depending on the user forecasts – buy, sell and hodl. At the time of writing, 57% of its users are advising you to buy BCH, 23% are in favor of hodling and only 20% would sell.
Based on these numbers, the platform produces an aggregate rating which has been determined as “hodl” for bitcoin cash. 55% of the investors believe BCH will be worth more in the next three months and almost 60% say its price is going to rise even further within a year. Buysellhodl also shows statistics for the predictions during past periods.
A Lerner Crypto Prediction Index is also produced for each cryptocurrency. It represents a sentiment indicator calculated by splitting the percentage of hodl ratings evenly between the Buy and Sell numbers and then dividing these updated percentages. The higher the result, the more positive the user sentiment. 1.0 indicates neutral sentiment and BCH is currently at 2.17.
The application provides information about the current prices of all tracked digital coins as well as the price change during the past 24 hours which is displayed in percentage points. Cryptocurrencies are also listed according to their market capitalization. The Ratings page shows each coin with its current user consensus, price target for the next 12 months and how the crypto ranks among traders’ top picks.
You can also use Bitcoin.com’s Bitcoin Markets to stay informed about the current state of crypto markets. The online tool provides real-time data on the prices and valuations of hundreds of digital assets. Check out our Bitcoin Charts page as well.
What other price prediction platforms do you know or use? Tell us in the comments section below.
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Images courtesy of Shutterstock, Buysellhodl.