New Trading App BuySellHODL Launches Proprietory Price Targets and Crypto Ratings Feature
Originally published on: CoinSpeaker
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February 28, 2019
As cryptocurrency trading apps and price targets are not often based on data and users’ feedbacks, they are usually considered as unreliable for both traders and general market. While the use of cryptocurrencies and their trading increase, it is becoming harder and harder to overestimate the importance of making trading algorithms able to cater the enormous amount of information flooding the trading community.
That is where the new revolutionary trading app BuySellHODL enters the game. The app has recently developed and successfully launched its first-of-its-kind price target features and crypto ratings that are based on a proprietary approach. These price targets and crypto ratings on an entirely quantitative approach can be easily used by both beginners and experts, who look to get into the trading business.
The app currently gives a 12-month price target of $6,662.29. The ratings distribution breaks down the number as follows: 60% Buy, 22% HODL, and 19% Sell. This figure is not decided by trickery on a trial-and-error basis like other apps – it involves a complex process with regular feedback from top and middle investors. For now, only Bitcoin is available for BuySellHODL analysis and its unique features.
The app is designed to regularly provide users’ feedbacks for the future of digital assets. This information is then used to update the app’s price targets and other statistics on an hourly basis for the benefit of the users.
The company is soon planning to launch ratings for the following cryptos: Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS, Zcash (ZEC), TRON (TRX), Binance Coin (BNB), Stellar (XLM), and Ethereum Classic (ETC).
According to the founder of the company Clifford Lerner:
“There is a severe lack of compelling data and real-time analysis on cryptocurrencies. Our app addresses these shortcomings head-on, by providing the first of its kind crypto-currency content. By querying our community of users, we’re able to create fresh, real-time, and unbiased cryptocurrency ratings and price target data, while eliminating the inherent shortcomings and biases of qualitative ratings data that give little insights into the trends.”
The revolutionary app provides its users with a range of innovative features: Real-Time-Data, which allows for updating price targets every minute and ratings on a daily basis; Quantitative Information, which represents itself a proprietary formula for generating ratings and targets; Sentiment Analysis, which facilitates the monitoring of Bitcoin trends and critical shifts in community opinion; and finally, Universal Availability, which provides access to crypto ratings on the website as well as on the company’s Android and IOS apps.
The app requires each user to maintain a crypto bio. The bio contains several inquiries relating to the cryptocurrency market and predictions for the coins that are being analyzed by the app. This extremely important feedback is used to update the price targets and crypto ratings features.
Specifically, the Bitcoin price target formula incorporates several factors. They are: the distribution of the Bitcoin Buy, Sell, and HODL ratings; the distribution of all cryptocurrency ratings; and the Bitcoin price prediction survey data. While the app takes feedback from all users, more expert traders will soon be consulted for an Experts Section with price predictions and other data from some of the leading crypto traders in the world.
The crypto mood differs geographically, and thus BuySellHODL is going to use the geographical locations to try and create area-specific trading data from popular crypto destinations. They include USA, Japan, Brazil, United Kingdom, Switzerland, Australia, Canada, China, Argentina, Estonia, and Hong Kong, Taiwan, Singapore, South Korea, and Indonesia.