TrakInvest preps AI-powered crypto price estimation tool

Social trading platform, TrakInvest, has unveiled an AI-powered price estimation tool for cryptocurrencies, following a six-month closed beta phase. This will launch on Monday, 10th September via its website, as well being available for participants on the company’s TrakCrypto Show offering.

The tool combines structured data such as price, volume and market cap with unstructured data such as sentiment from social media channels, forums and blogs to deliver more accurate data and predictions for cryptocurrency investors. It will also use indicators such as the number of new digital wallets being created, and velocity between wallets.

The AI engine has been developed by Dr. Partha Talukdar, who leads machine learning and AI at the Indian Institute of Science.

Two versions are on offer – one for retail customers with estimated crypto prices and one for institutions, which drills down further into the data. Dr. Talukdar says: “The 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 of TrakInvest, adds: “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.”

He continues: “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 the tool to our suite of tools in response to the demand of our customers.”

TrakCrypto Show

TrakInvest is claiming a world first with the aforementioned TrakCrypto Show.

Starting on 12^th September, this will run twice a week on YouTube and the five top performers with the best portfolio returns will be interviewed. In addition, a total of 125 weekly winners have a chance of securing cryptocurrency rewards worth over $100,000.

Every episode will feature conversations with the contestants on their investment strategies, what’s working for them and their challenges as their trading moves were recorded daily.

Organised in conjunction with the Blockchain Founders Fund, it follows on from the Trakinvest Show which ran last year. “We want to bring cryptocurrency to the masses and give a chance to the global crypto traders to compete for $100,000,” says Bhatia.

Aly Madhavji, Founder, Blockchain Founders Fund, comments: “The show is the first of its kind to educate the masses on blockchain and cryptocurrency in a low risk and high reward environment.”

Participants can sign up for $20 a month for a subscription, the ability to participate in the game and chances to win. Further info at www.trakcrypto.com.