Today we're sharing another user story about a successful trade based on Crowdsense Social Media Spikes. The user bought Venus $XVS at $29.38 approximately 7 minutes after the first event detection and sold the following day at $31.75. In this trade, the generated profit was 8% in only a few hours.
First, on 19/10/2021 at 4:16 PM (GMT+3), Crowdsense detected a social media mention spike in Venus of 3,219%. Social Mentions Spike is the increase between how many people mentioned a coin on social media in the past hour or day vs. the average of social mentions in the past 14 days.
At the same time, at 4:16 PM, Crowdsense detected a second event related to Venus Coin: 3.2 points climb to 9.9/10 in hourly social sentiment for $XVS. Social Sentiment Spike is the hourly increase in how the market views the specific coin compared to the average market view of the past fourteen days.
Social spikes in sentiment and mentions regarding a cryptocurrency provide signals that could anticipate a change in its price. Combining these metrics, users can get a good direction regarding a buy or sell decision for the crypto in question.
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