Struggling to Predict Bitcoin’s Next Price? Exorde Protocol Might Just be What You’re Missing
Disclaimer: The text below is a press release that is not part of Cryptotelegraph.com editorial content.If you’ve been trading the Bitcoin market for some time and still struggle to come up with accurate predictions about where the price is heading next – Exorde might be the perfect solution you’re looking for. Through its decentralized data scraping and sentiment analysis network, Exorde has created a system that accurately predicts the direction of Bitcoin prices over the next hour with upwards of 60% accuracy. The Exorde Index tool can help traders make better trading decisions to become more profitable. Suppose you’re a live futures trader or just a casual retail trader. In that case, Exorde Index is undoubtedly one of the tools to include in your daily informational dashboard and will likely be a tool you will start checking regularly. What is Exorde and How Does It Work?Exorde is a Web3 protocol that provides developers with the relevant tools to crawl and link all public data on the internet. The protocol aims to extract sentiment over a wide range of topics from worldwide social networks through a decentralized community.The internet is a sea of information with over 7.7 Exabytes flowing through its ocean daily. This information provides vital clues about the overall sentiment of particular topics, which can help professionals make more informed decisions if analyzed correctly. The Exorde protocol provides a method to track and aggregate this data through a decentralized and open-source protocol.The protocol lets developers scrape publicly available information from the internet. This includes data from sources such as;Social network posts.Press & news articles.Academic articles.Online videos.Photos. This data is then processed in a decentralized pipeline that gives output graphs linking similar data and facts.The data can then be further processed depending on the intended use case. As a result, the protocol has various use cases ranging from filtering fake news from feeds, creating data marketplaces, building high-speed APIs, and finding the best NFT on the market today.However, one of the critical features of Exorde’s sentiment analysis capabilities is providing highly accurate market price predictions – with Bitcoin being the first.What is EXD Token?EXD is the native token behind Exorde. It is the utility token used as a payment method for the work of the data scrapers. The token managed to raise a total of $2.5 million in funding and was mentioned among the Top 7 Crypto’s to Watch in Winter 2022 by CoinList.Funders of the project include high-profile names such as:Outlier VenturesProtocol LabsGate.io LabsInsignius CapitalPalar CapitalVespertine CapitalBlackdragonWhat is Exorde Index?The Exorde Index is one of the first solutions implemented using the Exorde Protocol data pipeline. It is a market price prediction tool that provides price estimates for Bitcoin and other cryptocurrencies. It uses the data collected from the Exorde Protocol to train the Exorde Index prediction models. The model then uses the data to provide an evaluation of crypto prices over the next hour. Exorde has a wide range of features that include;Predictions with a high accuracy ratio of 60%+Tracking the current live sentiment of cryptoTracking real-time web trends across the globeA unique decision support tool for tradersWorldwide data in any languageHow Does Exorde Index Achieve Upward of 60% Accuracy?Exorde Index uses the decentralized data scraped from the entire internet to track crypto sentiment worldwide. The data scraped through Exorde Protocol – from news articles, social media posts, and analysis videos – is analyzed to extract social sentiment and assess future price directions. Its sentiment analysis breaks down the overall mood within a particular market, allowing it to come up with a price prediction over the next hour. It utilizes Natural Language Processing (NLP) technology to break down the data and analyze its contents. This is particularly useful in assessing countless social media posts about Bitcoin to gain an overview of the market feeling. For example, if the sentiment leans heavily toward the sentiment of Anger, prices can be expected to fall in the short term. Alternatively, if the sentiment leans more toward Joy, prices might be more likely to head higher.Exorde currently provides outputs for over 28 different trading moods;In addition, the system can also track the sentiment analysis across a wide timeframe, allowing the data to be plotted on charts for an overview;The protocol stands apart from its competition as its decentralized data collection model is incredibly fast, providing real-time data analysis across a wide range of topics. Furthermore, Exorde can retrieve data from all languages, meaning that its sentiment analysis considers a global perspective across multiple languages. What’s Coming Next For Exorde Index?Currently, Exorde Index provides price predictions for the price of Bitcoin over the next hour. Soon, Exorde plans to offer price predictions for Bitcoin over the next 4-hours, the next day, and the following week. Furthermore, it plans to expand the coins it provides price predictions for to include cryptocurrencies such as Dogecoin, Ethereum, XRP, and Cardano. The team also intends to release a unique decision support tool designed explicitly for traders. The tool aims to provide price fluctuation data and related sentiment analysis for each token to help traders make better decisions. The decision support tool is also designed to alert traders to specific fundamental market-moving events that might be occurring. For example, suppose a prominent crypto influencer creates a Tweet that results in surging prices for a particular coin. In that case, the decision support tool will alert the trader about this Tweet to enable them to be fully informed. Conclusion: Can Exorde Really Predict Price Movements Accurately?The Exorde Index tool can help traders become more consistently profitable with their trading.Typically, professional traders aim to hit an accuracy of above 51% to enable them to achieve consistent gains over a long period. Anything that consistently provides an accuracy rating above 51% is considered exceptional and should lead to higher profits.The current accuracy rating for Exorde Index is over 60% – meaning it’s correct with over half of its calls, providing the perfect environment for a disciplined trader to make gains over the longer term. The high accuracy of the Exorde Index becomes even more remarkable when we consider that it provides price predictions every hour.Overall, simply following the price predictions from Exorde should make you a better trader. However, a personalized risk management strategy will still be crucial for long-term success. Visit Exorde Index Today