Reuters' New Tool Scans Websites for Bitcoin Investment Advice

Thomson Reuters announced today that the newest version of their "MarketPsych Indices" will scan over 400 websites to gauge sentiment about bitcoin, in real time. This is on the heels of many analysts seeing a positive correlation between Google searches of the word "bitcoin" and its price.

Last December/January was an exciting time for bitcoin and altcoins such that many people were discussing cryptocurrencies over the holiday dinner table with family and friends. With the subsequent drop the conversation, and number of searches, subsided quite a bit.

With a market cap of nearly a trillion dollars, cryptocurrencies are a force to be reckoned with and the potential rewards for being correct on the investment into bitcoin itself or a high flier altcoin are seismic.

The fact that statistics has shown the correlation to be real is fascinating. Perhaps the investment that Reuters is making into this technology will be further rolled out to cover various altcoins, in the hopes of jumping in while the conversation is hot and take a ride up while it quickly appreciates. "Hodl" on for the ride!